PHOENIX, Oct. 17, 2018 /PRNewswire/ -- AFS
Technologies, Inc. ("AFS") a leading provider of software solutions
purpose-built for consumer goods manufacturers, food distributors,
and sales agencies, announced today that it has reached an
agreement with STG Partners ("STG") in which funds managed by STG
have acquired a majority equity interest in AFS. TPG Specialty
Lending, Inc. (TSLX or "TSLX"), which has been an investor in AFS
since 2011, will retain a meaningful ownership interest in AFS
going forward and will continue to support AFS as a financing
partner.
Joe Bellini, CEO of AFS, noted,
"Over the past twelve months, AFS has made significant research
& development investments across its product portfolio and
customer support organization. These investments have resulted in
additional market-leading features and functionality, more
streamlined architectures, and intuitive user interfaces and
workstreams. As we initiate our launch into the next phase of
innovation, the additional capital invested by STG and TSL will
provide AFS with the flexibility to continue delivering
best-in-class value to customers."
AFS is an established market leader, with an end-to-end consumer
goods platform across Trade Promotion, Retail Execution, Mobility,
Analytics, Customer Management, Order Management, Warehouse
Management, ERP and automated revenue recognition. It serves
leading Food and Beverage CPG companies, including seven of the top
10 constituents of the Forbes Top 100 list. With over 1,300
installations globally, AFS solutions deliver value across tier-1,
tier-2, and tier-3 customers. AFS is also a Microsoft Globally
Managed ISV Partner - managed through the Worldwide OCP team.
Independent analysts, including Gartner and the Promotion
Optimization Institute, have ranked AFS software products
best-in-class, noting AFS' differentiation in having
implementations across every major geography.
William Chisholm, STG Managing
Partner said, "AFS is an established market leader providing
innovative software solutions that serve the needs of over 1,300
customers in the consumer goods industry across 50 countries. We
are thrilled to partner with Joe and the AFS team to help
accelerate the growth of the company's next generation of retail
execution, supply chain, trade promotion management and automated
revenue recognition software solutions. We look forward to
embarking together on the journey ahead."
Barclays acted as financial advisor and Paul Hastings LLP acted
as legal advisor to STG. Fried, Frank, Harris, Shriver &
Jacobson LLP acted as legal advisor to TSL.
About AFS Technologies
AFS Technologies (AFS) is the leading provider of software
solutions purpose-built for consumer goods manufacturers and food
distribution companies. We are committed to generating improved
outcomes at the point of purchase coupled with generating
efficiencies in trade spend, retail execution and supply chain.
With experience developed over its 33-year history, AFS serves more
than 1,300 customers of all sizes in more than 50 countries around
the world. The AFS products are innovative, configurable
applications that are proven to optimize your potential with
automated processes, improved productivity and rapid time to value.
Learn more about AFS Technologies
About STG Partners
STG is the private equity partner to market leading companies in
data, software, and analytics. The firm brings expertise,
flexibility, and resources to build strategic value and unlock the
potential of innovative companies. Partnering to build
customer-centric, market winning portfolio companies, STG creates
sustainable foundations for growth that bring value to all existing
and future stakeholders. The firm is dedicated to transforming and
building outstanding technology companies in partnership with world
class management teams. STG's expansive portfolio has consisted of
more than 30 global companies. For more information, please visit
www.stgpartners.com.
About TPG Specialty Lending
TSLX is a specialty finance company focused on lending to
middle-market companies. The Company seeks to generate current
income primarily in U.S.-domiciled middle-market companies through
direct originations of senior secured loans and, to a lesser
extent, originations of mezzanine loans and investments in
corporate bonds and equity securities. The Company has elected to
be regulated as a business development company, or a BDC, under the
Investment Company Act of 1940 and the rules and regulations
promulgated thereunder. TSLX is externally managed by TSL Advisers,
LLC, a Securities and Exchange Commission ("SEC") registered
investment adviser. TSLX leverages the deep investment, sector, and
operating resources of TPG Sixth Street Partners, the dedicated
special situations and credit platform of TPG, with over
$25 billion of assets under
management as of June 30, 2018, and
the broader TPG platform, a global private investment firm with
over $94 billion of assets under
management as of June 30, 2018. For
more information, visit the Company's website at
www.tpgspecialtylending.com.
Media Contact:
TSL Contacts:
Investors:
Lucy Lu, 212–601-4753
IRTSL@tpg.com
or
Media:
Luke Barrett, 212-601-4752
lbarrett@tpg.com
or
Abernathy MacGregor
Patrick Clifford, 212-371-5799
pfc@abmac.com
Media Contact:
Ian Faith
Snr VP of Global Marketing
ian.faith@afsi.com
Photo(s):
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SOURCE AFS Technologies