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Blue Star Sports Announces Majority Equity Investment From Genstar CapitalDALLAS, April 10, 2017 /PRNewswire/ -- Blue Star Sports ("Blue Star"), a leading provider of sports management software and payment solutions, today announced that it has received a majority equity investment from Genstar Capital, a leading middle-market private equity firm focused on investments in targeted segments of the financial services, software, industrial technology, and healthcare industries. In addition to investing, Genstar has made a substantial commitment to Blue Star to fund future acquisitions. The capital will be used primarily to fund strategic acquisitions and continue Blue Star's organic growth in North America and internationally. Rob Wechsler, the Jerry Jones family, and Providence Strategic Growth (the growth equity affiliate of Providence Equity Partners) will continue to own significant stakes in the company. Mr. Wechsler founded the company and will continue to lead Blue Star as CEO. Blue Star Sports offers league and team management solutions designed for use by coaches, players/parents, and volunteers. The Company's tools allow easy registration for sports organizations and an ability to efficiently collect payment and registration fees. Blue Star also hosts team websites and customized mobile applications for use on any device, and back office management systems to help players and parents stay organized by coordinating functions such as roster management, schedules, and collection of athlete data. The market for sports management software solutions is expected to grow over 13% CAGR through 2021, according to a recent independent research report. Eli Weiss, Managing Director at Genstar, said, "Rob is a dynamic entrepreneur who has built multiple successful companies and we are very pleased to be able to support this rapidly growing platform serving an exciting and passionate youth sports market. This investment is squarely aligned with Genstar's software and payments investment thesis. We are thrilled with this opportunity to invest in an exceptional business and to provide our capital and executive resources to further accelerate growth by building on Blue Star's leadingtechnology and identifying strategic acquisitions." Mr. Wechsler, said, "Genstar has a long and successful track record of working with market leading firms in the software sector and we are pleased to partner with their team who understands our business and shares our vision of building an even stronger company. Blue Star was founded with the simple idea of making it easier for the entire youth sports community to focus on the players, the games, and the competition. Our user-friendly tools make it easier to run youth sports leagues so less time can be spent on the administrative and organizational aspects." Genstar has a track record of successful investments in the software and payments sector, including such companies as Ministry Brands, a leading provider of cloud-based software and payments solutions for faith-based and educational organizations; Accruent, a global provider of SaaS software for real estate and facilities management; Evolution1, the market leader and innovator in consumer-directed healthcare software and payment solutions; ConstructConnect, a leading provider of cloud-based software tools and data analytics to building product manufacturers, general contractors and subcontractors; and TravelClick, the leading provider of data, technology and media solutions to the global hospitality industry. Piper Jaffray and Ropes & Gray served as Genstar's advisors. Harris Williams & Co., Weil Gotshal & Manges, and Morgan, Lewis & Bockius advised current Blue Star shareholders. About Blue Star Sports About Genstar Capital About Providence Strategic Growth Contacts: For Genstar: Chris Tofalli For Providence: Andrew Cole To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/blue-star-sports-announces-majority-equity-investment-from-genstar-capital-300436934.html SOURCE Genstar Capital |