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Solis buys stake in IT process automation software company gen-E

20 Mar 2012

Lower mid-market private equity firm Solis Capital Partners has invested in global IT process automation software company gen-E.

The company said it plans to use the funds to fuel further growth through a worldwide channel partner programme to make inroads into utilities, finance and telecommunications.

Solis’ investment comes hot on the heels of record profits for gen-E, which saw 100 per cent profit growth and 40 per cent revenue growth in 2011.

Craig Dupper, a partner at Solis, said, “gen-E’s leadership team has successfully orchestrated a market-leading ITPA platform while laying the groundwork for an expanded worldwide partner network.”

California-based Solis held a first close of $42.5m on its second mid-market fund last month.

It said it expected to have raised the remainder of its $100m target by the end of the year.

The mid-market firm focuses on software, business service, manufacturing and value-added distribution companies in highly fragmented markets.

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