PHILADELPHIA, July 19, 2011 /PRNewswire/ --
Quintiq, a leading provider of Advanced Planning and Scheduling (APS) enterprise software solutions, and Philadelphia-area private equity firms LLR Partners and NewSpring Capital announced today that the firms have made a significant minority investment in the company with the remaining ownership held by Quintiq's founders and employees. The well-established Quintiq management team remains in place to continue steering the company as it has successfully done since its founding in 1997.
As a profitable, privately owned company with year-over-year growth of approximately 40%, Quintiq has established a strong market position to continue on its growth path. Nevertheless, the company welcomed the opportunity to partner with professional investors who bring significant experience in helping guide companies through their growth cycles. The investment and professional backing will allow Quintiq to better serve existing customers and reach its goal to become the market leader in the supply chain optimization sector.
"We are very pleased to partner with LLR and NewSpring as we embark on our next chapter of growth," said Victor Allis, CEO of Quintiq. "They are an excellent fit for our company, both financially and professionally. Both firms are based close to our North American headquarters and throughout the entire process their teams have been great to work with. We very much look forward to growing our business together."
Greg Case, a Partner of LLR, commented, "It's rare to see a company that has so successfully bootstrapped itself, without any outside financial backing, to reach Quintiq's current scale. With the additional resources now available to Quintiq, we will be able to assist the company in managing its rapid growth."
Marc Lederman, a Partner of NewSpring, added, "Having already demonstrated it has the technology, vision and effective management to succeed in its market, Quintiq is poised to become the clear market leader. Working together, I am confident we can achieve that objective."
Quintiq is managed from dual headquarters in the U.S. and Europe, providing a broad base for its worldwide operations. Victor Allis, based in Philadelphia, will continue to serve as worldwide CEO, and Arjen Heeres, based in The Netherlands, will remain COO. Quintiq expects to hire additional talent to support the company's growth initiatives and existing customer base.
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