News
Northside Advises Lone Rock Technology Group on its Acquisition of iGrafx from Corel Corp
New York, NY – August 29, 2011 – Northside Advisors LLC is pleased to announce the acquisition of iGrafx, a business division of privately held Corel Corporation, by Lone Rock Technology Group, formerly known as the Limerock Group, LLC.
iGrafx, founded in 1987, is a leading provider of Business Process Analysis (BPA) solutions enabling flexible design, optimization and implementation of more productive processes across the enterprise. iGrafx effectively links the three major process constituencies, IT, Business Analysis and Process Initiatives, for measurable productivity improvements.
“With iGrafx we have acquired a global brand and set of solutions that are highly respected by business process architects and analysts”, said Joel Trammell, Managing Partner of Lone Rock Technology Group. “Together with the iGrafx team, we’ve identified several ways in which we can immediately begin to accelerate the growth of the business.”
According to Gartner, the noted research firm, business process analysis tools continue to grow in importance as managers and process architects and analysts seek to better understand, streamline and automate their business processes and communicate their needs to IT professionals.
“iGrafx has been a long-time leader in the BPA space with a strong customer base and patented technologies”, said Michael Rosenberg, Managing Partner at Northside Advisors. “The iGrafx team, led by Ken Carraher, will continue to manage the business, and combined with Lone Rock Technology Group’s success in growing enterprise software companies and its access to capital, iGrafx will be well-positioned to exceed the growth in this market.“
“This was a complex transaction which involved a carve-out of operating assets from various subsidiaries of a large corporation that were spread across the globe. That the transaction went so smoothly is a testament to the team and back-office capabilities we have built at Lone Rock Group,” said John Eckman, Managing Partner of Lone Rock Group. “The team at Northside Advisors was particularly helpful in navigating the many complexities surrounding the deal.”
Northside Advisors was the exclusive financial advisor to Lone Rock Group on this transaction. Miller, Egan, Molter & Nelson provided legal advisory.
About Northside Advisors
Northside Advisors is a boutique investment bank that provides specialized financial advisory services, including merger and acquisition (M&A), capital raising and corporate development services, for emerging and middle-market companies in technology, software and digital media. The seasoned team of bankers works in close partnership with clients and has successfully completed over 50 transactions.
About Lone Rock Group
Lone Rock Group (www.lonerock.com) is an operationally oriented investment firm focused on the business and enterprise software industries. Lone Rock looks to acquire or take significant control positions in software companies that have an established market presence and proprietary technologies but have encountered barriers to continued growth or financial stability.
About iGrafx
iGrafx (www.igrafx.com) provides a comprehensive Business Process Analysis solution that helps organizations model, improve and manage processes and technologies that support, simplify, and automate their operations. Whether aligning business objectives with IT systems, complying with industry regulations, automating business processes, or undertaking initiatives such as Six Sigma and Lean, iGrafx provides the ability to leverage results, improvements and controls across these efforts, resulting in increased return on investment. iGrafx’ industry leading solutions are used by thousands of organizations world wide in their efforts to achieve process excellence.
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