Quadrant Software LLC, a portfolio company of U.S. private equity firm Candescent Partners, said Thursday that it has acquired Business Computer Design Inc (BCD) and ExcelSystems Software Development Inc (ESDI). No financial terms were disclosed for the deal. Chicago-based BCD and ESDI, which is located in Victoria, British Columbia, are software companies. Update: ESDI develops, supports and provides services for almost all of the software under the BCD brand. Candescent led the acquisition of the Mansfield, Mass.-based Quadrant Software in 2010.
MANSFIELD, Mass.–(BUSINESS WIRE)–Quadrant Software, LLC, a Candescent Partners company and the leader in Document Output Management (DOM), today announced it has acquired IBM i modernization market leaders Business Computer Design, Inc. (BCD), located in Chicago, and Victoria, BC-based ExcelSystems Software Development, Inc. (ESDI).
BCD and ESDI are two of the most successful software organizations in the IBM i marketplace, with more than 35 years of experience in providing modernization solutions for thousands of organizations worldwide. ESDI is the development arm of BCD and the two companies have been partners for more than 20 years. BCD and ESDI will continue to operate under their brands. BCD and ESDI are known for their exceptional technology, quality, service and support. Through this acquisition, Quadrant will benefit from product synergies and will be able to expand its solutions to maximize, modernize and mobilize the value and investment organizations have in their IBM i assets and applications.
“This transaction will provide significant opportunities for our customers, partners and employees,” said Stephen Woodard, who will serve as CEO of the combined companies. “Through this acquisition, we can take advantage of BCD’s global reach and can offer our customers a larger and complementary portfolio of solutions, from infrastructure and application modernization to mobile development, further maximizing the investment they have made in IBM i.”
“Quadrant’s solutions are very synergistic with our current product portfolio, and this merger will enable us to provide new opportunities for our customers and employees,” said Duncan Kenzie, founder of ESDI who becomes chief knowledge officer for the combined companies. “We are excited to continue our work with BCD with the added resources afforded by Quadrant.”
“Our customers have relied on BCD’s solutions for more than 35 years,” said Eric Figura, BCD’s director of sales and marketing for more than 30 years, who will assume the role of chief customer advocate at the combined company. “We now have an opportunity to expand the reach of our solutions with a greater breadth of resources and global channel options, while we continue to offer the level of technology, service and support that our customers have come to expect.”
BCD founders Lynn and Joseph Svandra are very pleased that BCD will continue the history of quality and success that Lynn started in 1976 and then managed throughout BCD’s growth. The combined company will benefit BCD’s clients, business partners, employees, and the growth of its product lines.
“This key acquisition is consistent with our strategy of combining world-class technology and services companies,” said Stephen Jenks, managing partner of Candescent Partners. “BCD and ESDI have a long history of success and are an ideal complement to Quadrant.”
BCD is the clear leader in modernization and mobility solutions for the IBM i marketplace. With more than 35 years of experience, BCD has successfully helped thousands of organizations worldwide to modernize using BCD software solutions that include Presto, WebSmart, Catapult and ProGen. BCD has received 40 industry awards for software excellence, is a member of IBM’s IBM i ISV Advisory Board and an IBM Advanced Business Partner. BCD is known for the ease of use of its products and its outstanding customer service. For more information, visit: www.bcdsoftware.com
About ExcelSystems Software Development, Inc.
ExcelSystems Software Development, Inc. (ESDI) is a software development and services company located in Victoria, BC, Canada. ESDI develops, supports and provides services for almost all of the software under the BCD brand. For more than 20 years, ESDI has operated on the core principles of technical curiosity, hard work and innovation. For more information, visit: www.excelsystems.com
About Quadrant Software, LLC
Founded in 1990, Quadrant Software is a leading provider of Document Output Management (DOM) software and solutions for the enterprise. Through its award-winning, cloud based QuadraDoc V, FastFax and Formtastic product lines, companies can electronically create and manage mission critical documents from their data center, or the cloud, via print, fax or email to reduce expenses, increase productivity and improve communication in a more secure and compliant manner. Quadrant Software has customers and partners around the world in key markets including finance, manufacturing, transportation, retail and healthcare. For more information, visit: www.quadrantsoftware.com
About Candescent Partners, LLC
Candescent Partners is a Boston-based private equity firm that invests in the acquisition, growth and recapitalization of lower middle market companies in healthcare services, business services, software and consumer products and services. Steve Jenks and Sandy McGrath founded Candescent in 2009 and Steve Sahlman later joined as a Principal. Candescent invests in businesses with annual EBITDA between $2 and $8 million and enterprise values between $10 and $75 million. For more information, visit: www.candescentpartners.com
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