|By Business Wire||
|December 13, 2012 10:02 AM EST||
Audax Group announced it has completed a recapitalization of Data Intensity, Inc. (“Data Intensity”) in partnership with management. Data Intensity, headquartered in Bedford, Massachusetts, is a leading provider of cloud services for enterprise applications such as the Oracle E-Business Suite, as well as surrounding technologies from other leading vendors. Data Intensity primarily serves medium to large enterprises, offering end-to-end outsourcing solutions, disaster recovery, and professional services focused on enterprise applications and technologies from Oracle and Microsoft.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said “Data Intensity is a leading provider of outsourced application management services for Oracle’s ERP platform. We look forward to working with management to grow the business by implementing sales initiatives, expanding product offering, and making strategic add-on acquisitions.”
Kevin Kennefick, CEO of Data Intensity, said “We are excited to be working with Audax Group. Their experience working with middle market companies will be a valuable resource as we continue to grow our business.”
Stifel Nicolaus Weisel acted as financial advisor to Data Intensity. Ropes & Gray LLP served as counsel to Audax Group, and Jones Day served as counsel to Data Intensity. Goldman Sachs Specialty Lending Group provided financing to support the transaction.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt funds. For more information visit the Audax Group website www.audaxgroup.com.
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