Shore Points Capital and Greyrock Capital Group have invested in Colyar Consulting Group. Financial terms were not announced.Phoenix-based Colyar Consulting provides software solutions to state governments in support of United States Department of Agriculture Child Nutrition and related Food Distribution Programs.
New York, NY (PRWEB) June 25, 2013
Shore Points Capital and Greyrock Capital Group today announced the completion of an investment in Phoenix, Arizona-based Colyar Consulting Group Inc., in anticipation of continued expansion and new value creation initiatives.
Since 1997, Colyar Consulting Group (CCG) has been the leading provider of software solutions to state governments in support of United States Department of Agriculture Child Nutrition and related Food Distribution Programs. The National School Lunch Program, with a 2012 budget of approximately $10.7 billion, is the largest of the programs supported by CCG’s products.
CCG represents the fifth investment in standalone software businesses sponsored by the principals of Shore Points Capital, and the second in partnership with Greyrock.
Ed Irwin, Managing Partner of Shore Points Capital, said, “Colyar Consulting Group is led by an outstanding and proven leadership team that impressed us with their years of domain expertise and the results they have generated. Shore Points and Greyrock look forward to working together, and with the CCG team, led by President and CEO Jeff Colyar, to enhance the value of the business for the benefit of customers, employees and shareholders.”
Jeff Colyar, President and CEO of CCG, said, “We are excited to partner with Shore Points and Greyrock as we seek to build our offerings to the existing customer base and expand into new areas. As we look to this next phase of the Company’s growth, CCG will have the financial and strategic resources necessary to support these initiatives.”
About Colyar Consulting Group
Colyar Consulting Group, Inc. (CCG) is the leading developer of web-based software solutions for managing USDA Child Nutrition and Food Distribution Programs. CCG integrates emerging computer technologies with custom applications and system software to provide innovative, reliable, and cost effective solutions.
CCG simplifies the administration of the nutrition programs and food distribution process by providing an easy-to-use Internet-based program designed to take the burden off of state administrators by creating efficiencies in the workplace and eliminating paper-based processes. For more information, please visit http://www.ccglink.com.
About Shore Points Capital
Shore Points Capital is a New York-based private equity firm focusing on equity investments in lower middle market businesses. Until 2006, the principals of Shore Points Capital operated as the North American private equity arm of BNP Paribas, a multinational bank based in Europe. Shore Points Capital has significant experience investing across a variety of industries, with a particular emphasis on business-to-business/enterprise software companies. http://www.shorepointscapital.com.
About Greyrock Capital Group
Greyrock Capital Group provides mezzanine debt and equity to finance buyouts, recapitalizations and internal growth needs of middle-market companies. Further information on Greyrock is available at http://www.greyrockcapitalgroup.com.