Iron Creek Partners LLC (“Iron Creek”), a private investment firm based in Santa Fe, NM, today announced the recapitalization of Prism Visual Software, Inc. (“Prism” or the “Company”), a leading provider of direct store delivery (“DSD”) and route accounting software to manufacturers and distributors globally. Shashank Patel, who has joined as CEO of Prism, invested with the group led by Iron Creek. Terms of the transaction were not disclosed.
“We are pleased to have the opportunity to partner with the outstanding team at Prism and to contribute to the Company’s next phase of growth. We believe we can add value to Prism both through organic investment and acquisitions in the DSD software and related industries, which we believe will further enhance Prism’s product and service capabilities,” said Jeff Montagna, Managing Director of Iron Creek. “Prism has established a leadership position in the DSD software industry, with its highly configurable product and unique solutions for DSD industries, such as office coffee, beverages and gas that enable businesses to improve sales and more efficiently deliver goods and services. We have been particularly impressed by Prism’s ability to solve customer pain points, such as inventory shrinkage, which has given the Company a distinct advantage in emerging markets. We look forward to supporting Prism’s team as they continue to help customers succeed.”
“We are excited to partner with Iron Creek to take Prism forward into the future,” said Lorraine Keating, Prism’s Founder and President. “Prism was started in 1998 and has differentiated itself with innovative solutions and personal attention to customers. We learned from our customers about their businesses and built software that works the way they need it to work. With Iron Creek, I know Prism is in excellent hands because they understand the culture and value the relationships that we have with our customers. I am confident that this will continue and even improve. Iron Creek has a successful track record of accelerating growth in technology companies and providing long‐term capital to the areas where it is most needed.” Ms. Keating will remain as the Company’s President.
“Building on a 21-year track record, Prism’s solutions suite, with a focus on route accounting and route optimization, alleviates our customers’ mission-critical needs,” Shashank Patel, Prism’s CEO and Managing Partner of SKP Holdings, LLC, added. “We are excited to develop new features and services that assure our customers a substantive ROI and allow them to effortlessly stay current as technology advances. We value our amazing customers and appreciate the mutual relationship of trust that has developed between us over many years. Our aim is to achieve even greater outcomes for our customers as a result of this transaction. We are confident that Prism’s products and services will benefit enormously from the Iron Creek investment.”
Duffy & Sweeney LTD advised the buyers in the transaction.
Prism (www.prismvs.com) is a leading provider of DSD and route accounting software to manufacturers and distributors globally. Founded in 1998 and based in Roslyn, NY, Prism has customers in various industries such as beverages, food, gas, and water treatment.
Iron Creek (www.ironcreek.com) is a sector‐focused, stage‐independent private investment firm based in Santa Fe, NM, seeking attractive investment opportunities primarily in the software, data, and communications industries. Iron Creek seeks to partner with strong management teams and to add value to their efforts by leveraging its network of relationships and its sector experience.
SKP Holdings, LLC is a New York based private investment firm led by Shashank Patel, focused on investing in market leading companies in North America. SKP Holdings takes an active role in investments by partnering directly with business owners seeking to accelerate growth. SKP Holdings invests in companies in the technology, media, telecom and business services industries.
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