Francisco Partners, a Menlo, Calif.-based private equity investment company, has closed on its acquisition of RedPrairie Corp., a Waukesha company that has become a market leader in radio frequency identification (RFID) technology.
The transaction will enable RedPrairie to accelerate its already rapid growth rate while enhancing its strong focus on customer results, according to RedPrairie company leader John Jazwiec.
"RedPrairie has consistently grown 30 percent each year for the last three years, well ahead of our industry. However, we had reached an inflection point that required enhanced funding options. This transaction will strengthen RedPrairie’s ability to leverage its leadership position and signifies a further step in our growth strategy," Jazweic said.
A company spokesman told SBT that Jazwiec, the RedPrairie leadership team and the company’s 280 employees in Waukesha all are expected to remain with the firm.
David Golob, general partner of Francisco Partners, said, "We look for companies like RedPrairie that are poised to break out from the competition through superior technology and service, and those backed by strong management teams focused on the needs of the markets they serve. We believe RedPrairie is best-positioned in its industry to address market opportunities and leverage its unparalleled customer base for long-term value creation. Francisco Partners is excited to provide resources to enable their accelerated growth and we look forward to working with their experienced and forward-thinking management team."
June 10, 2005, Small Business Times, Milwaukee, WI
