Apax Partners makes strategic investment in Plexus Systems, provider of on-demand manufacturing systems
27th June 2006Apax Apax Partners, one of the world's leading private equity investment groups, today announced that funds advised by Apax Partners have made a strategic invest
Apax Partners, one of the world's leading private equity investment groups, today announced that funds advised by Apax Partners have made a strategic investment in Plexus Systems, LLC, a provider of a broad suite of applications that automate business processes for discrete manufacturers.
Apax Partners, one of the world's leading private equity
investment groups, today announced that funds advised by Apax
Partners have made a strategic investment in Plexus Systems, LLC, a
provider of a broad suite of applications that automate business
processes for discrete manufacturers.
Plexus employs an "on-demand", or "Software as a Service" (SaaS), delivery model that allows its single, standard code base to be accessed and shared by multiple customers via the Internet. The Plexus Online™ offering is the only on-demand suite of applications that automate the business processes of mid-market discrete manufacturers, principally within the mission-critical areas of Manufacturing Execution Systems (MES) and Enterprise Resource Planning applications (ERP). As a true manufacturing performance system, Plexus Online consists of over 350 fully-integrated modules that support all aspects of a manufacturing company, from shop floor to top floor. Today, there are over 260 customers using Plexus solutions.
Jason Wright, principal of Apax Partners, said, "Based on our experience investing in a range of software and SaaS companies, it is clear to us that Plexus is well-positioned in the ERP/MES market. The company has developed a feature rich, integrated ERP/MES suite of applications that meet the complex demands of discrete manufacturers. The on-demand delivery model enables faster implementation and a lower total cost of ownership."
Plexus founder and chief architect Robert Beatty said, "Having proven the power of our on-demand technology, and the effectiveness of our business model, we are pleased to take Apax Partners on as our new strategic partner. We look forward to continued growth and profitability in the future."
Company president Mark Symonds commented, "As we continue our focus on helping our manufacturing customers increase productivity, improve quality, and reduce costs, we are pleased to establish this important partnership with Apax Partners."
Roger Hurwitz, partner of Apax Partners and Jason Wright, principal of Apax Partners will join the company's board of directors.
Notes to Editors
About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates across the United States, Europe, Israel and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total $20 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services.
Apax Partners, L.P. software investments include: PlanView, Perfect Commerce, RealPage and Intralinks.
About Plexus Systems
For over a decade, Auburn Hills, Michigan-based Plexus Systems has maintained a singular vision -- to drive significant cost, quality and productivity improvements in the manufacturing sector from the shop floor to the top floor. Plexus Online™ is the first true on-demand manufacturing performance system. It delivers a powerful, real-time interface to the total manufacturing process. With the ability to manage a single facility or an entire enterprise, Plexus Online™ allows manufacturers to closely track critical aspects of their operation, anywhere, anytime. Plexus Online™ consists of over 350 functional modules allowing companies instant access to vital information using a simple web browser. Plexus Online™ includes shop floor control, traceability, quality management, EDI, accounting and many other capabilities configured as a fully integrated system or as a point solution to augment other ERP software. www.plex.com
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