Amcom Software Gains Investment from Norwest Equity Partners and Split Rock Partners
Amcom Software Gains Investment from Norwest Equity Partners and Split Rock Partners
Capital to fuel growth for leading provider of unified communications solutions in healthcare, hospitality, higher education, business, and government.
MINNEAPOLIS, MN – January 04, 2010 – Amcom Software, Inc., today announced that it has received a significant investment from Minneapolis investors Norwest Equity Partners (NEP) and Split Rock Partners. The funding will support Amcom Software’s ongoing mission of delivering unified communications software solutions that save lives and reduce costs.
Leading organizations rely on Amcom’s systems as their unified communications backbone because they need to speed urgent communications accurately and efficiently to increase productivity, caregiver and guest satisfaction, and patient and public safety. Amcom helps hundreds of hospitals, colleges and universities, government agencies, corporations, and hospitality properties respond better to key updates in ways that strengthen communication, improve service or care, and save lives. By providing seamless communications among individuals, Amcom solutions perform a variety of services ranging from giving heart attack patients life-saving care sooner, to alerting nurses of urgent patient needs via mobile devices, to helping call center operators process requests more easily, to helping emergency response teams quickly locate 911 callers wherever they are in facilities.
“We’re excited to start working with NEP and Split Rock Partners,” said Chris Heim, CEO, Amcom Software. “We have a tremendously strong foundation to build on and we look forward to developing more solutions to help our customers with their mission-critical communications challenges.”
In partnership with Garvin Hill Capital Partners, Amcom Software was purchased by Heim and business partner Dan Mayleben in 2007. Under their leadership, revenue has quadrupled in just three years and the company has delivered solid profitability. Garvin Hill Capital Partners has now exited the investment with this transaction. Said Mayleben, CFO, “We’re proud of the business our employees have built,” he said. “Each day we recognize the importance of our solutions as we work with our customers to improve and streamline communications. With the investment from NEP and Split Rock Partners, along with both firms’ deep industry experience, we will make additional investments and strategic acquisitions that fit perfectly with this mission.”
According to Tom Schauerman, Principal at NEP, Amcom’s past, present, and future were attractive. “It is remarkable what Amcom has accomplished and how their software helps organizations with safety and productivity,” he said. “We look forward to our partnership with the management team and are excited that they will be able to leverage the experience of Jim Lindner, a NEP Operating Partner and 40+ year veteran of the computer software technology and services industry.”
Michael Gorman, Managing Director of Split Rock Partners, was a previous investor with Heim and Mayleben in their earlier entrepreneurial successes. “I have a first-hand perspective on how Chris and Dan build great teams and outstanding companies. I am looking forward to working with the Amcom team and NEP to drive great results for customers and outstanding returns for all shareholders.” Oppenheimer & Co. Inc. acted as financial advisor to Amcom Software.
About Amcom Software
Amcom Software provides technology solutions for organizations that depend on speed, accuracy, and productivity to manage mission-critical, day-to-day, emergency and event-driven communications. Amcom Software’s advanced solutions for contact center communications, emergency management, integrated alarm management, and paging infrastructure are used by thousands of leading organizations in hospitality, healthcare, education, business, and government. For more information, call 800.852.8935 or go to http://www.amcomsoftware.com.
About Split Rock Partners
Split Rock Partners, with offices in Minneapolis and Menlo Park, seeks emerging opportunities in healthcare, software, and Internet services primarily in the Upper Midwest and West Coast. Split Rock was formed in June 2004 by the teams responsible for healthcare, software and Internet services investments for St. Paul Venture Capital (SPVC) and continues to manage SPVC’s portfolio in those sectors. Split Rock closed a $275 million inaugural fund in April of 2005, and a $300 million second fund in May, 2008. Representative companies backed by Split Rock’s team include Atritech, Disc Dynamics, EBR, eBureau, Entellus, Evalve, Gearworks, Internet Broadcasting, HireRight, LowerMyBills.com, MyNewPlace, QuinStreet, and Tornier. Additional information about the firm can be found at www.splitrock.com.
About Norwest Equity Partners
Norwest Equity Partners (NEP) is a leading private equity firm, providing growing and profitable middle market companies with the capital they need to reach their goals. NEP focuses on providing investments of $30 – $150 million through management buyouts, recapitalizations, and growth financing. Current capital under management totals $4.6 billion. For more information, go to www.nep.com.
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