| [April 08, 2005] |
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Datatel Executive Team Completes Management Buyout Backed by Thoma Cressey Equity Partners and Trident Capital
FAIRFAX, Va. --(Business Wire)-- April 8, 2005 -- Datatel, Inc. announced today that the management buyout of its founders, Ken Kendrick and Tom Davidson, is complete. This management buyout, backed by Thoma Cressey Equity Partners and Trident Capital, was originally announced on March 18, 2005.
"Datatel takes pride in the cutting-edge technology and professional services that we provide," said H. Russell Griffith, Datatel president, Chief Executive Officer, and Chairman of the Board. "With the added resources and expertise from Thoma Cressey Equity Partners and Trident Capital, Datatel will continue to grow and expand these offerings, providing our clients the tools they need to meet their business challenges."
Concurrent with the signing of this transaction, president and CEO Russ Griffith will also assume the role of Chairman of the Board. Vernon R. Hollidge, Datatel senior vice president will also serve on the board, and the remainder of the executive leadership will remain unchanged.
Founded in 1968, Datatel is a leading provider of fully integrated enterprise information management solutions for higher education institutions. For the last 25 years, Datatel has exclusively focused on meeting the needs of colleges and universities, helping institutions operate more efficiently so they may better serve their constituents. More than 650 Datatel clients have achieved new levels of success using the company's industry-leading software, Datatel Colleague, and acclaimed professional services.
About Thoma Cressey Equity Partners
Thoma Cressey Equity Partners (TCEP) is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for almost 25 years. The firm originated the concept of "industry consolidation" or "buy & build" investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Cressey's investment focus is on profitable, middle-market companies in the software, healthcare, business services, and consumer products and services industries. The firm provides equity capital for buyouts, growth equity investments, and going private transactions. More information about TCEP can be found at www.thomacressey.com.
About Trident Capital
Trident Capital is a leading venture capital and private equity firm. Since its founding in 1993, Trident has invested in more than 100 companies in the business services, information services and software sectors across a variety of industries. Trident is an active investor across multiple stages, with experience in both traditional venture capital growth financing as well as in management buyouts and corporate spin-outs. The firm has offices in Palo Alto, CA and Westport, CT. More information can be found at www.tridentcapital.com.
(C) 2005 Datatel, Inc. All rights reserved. Datatel and Colleague are registered trademarks of Datatel, Inc. All other names, products, and services mentioned are the trademarks or registered trademarks of their respective companies.
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