Peterson Partners invested $3.5 million in Globe Equity Partners’ acquisition of CLEO Communications, a company specializing in enterprise software for managed file transfer and email-to-fax needs. The investment is part of a buyout deal with participation from a number of investors.
“Peterson Partners invested in CLEO Communications because of its skilled management team and savvy approach to big data management,” said Brandon Cope, a partner at Peterson Partners. “CLEO’s products make secure and managed file transfer easy. We invested in the company because it is emerging as a leader in a growing market.”
Founded in 1976, CLEO is a leading provider of best-in-class enterprise software. Demand for CLEO VLTrader by Fortune 1000 companies worldwide has fueled record sales over the last year.
Mahesh Rajasekharan will assume the role of chief executive officer, and Sumit Garg will assume the role of president of CLEO. Former CEO and President Brian Hampton will remain with the firm in an advisory capacity. All other aspects of operations, including the senior management team and CLEO’s product and service lines, will remain intact.
“It is crucial for a company to be in a market that is expanding,” Cope added. “CLEO has demonstrated a product that is differentiated from its competitors, an element that is absolutely needed to attract investment dollars. Success also comes from backing strong leaders and creative thinkers. We’re confident that CLEO’s leadership will take the company to the next level.”
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