DALLAS--(BUSINESS WIRE)--Kofile, a market-leading provider of information management and access systems solutions for government agencies nationwide, has been acquired by, Audax Private Equity (“Audax”), a leading private equity firm with offices in Boston and San Francisco.
For the last decade, Kofile has built a reputation in the market as a customer-centric company with high-quality software solutions. The Audax acquisition will seek to aid Kofile’s ability to drive future growth and success, enabling greater investment in both people and technology to better serve customers, advance Kofile’s unique software solutions, and help drive the company’s growth strategy.
Audax is an experienced investor with a strategy focused on growth through product innovation, positive customer experiences and reference ability, and is uniquely qualified to position Kofile for rapid, dynamic growth. Kofile’s management team remains intact, with no planned changes to the company’s dedicated employee base or internal operations. Both Audax and Kofile are fully committed to continuing everything that has brought Kofile to this point of success – great software solutions, supported by great people and great customer service.
“In Audax, we believe we have found the perfect investment partner to propel our future growth,” said Michael Crosno, CEO of Kofile. “Their interest in the public sector market, coupled with their experience and customer focus, has us very excited about the opportunities this partnership will bring to Kofile’s customer-centered commitment.”
Young Lee, Managing Director at Audax Group, said, “Kofile's reputation for quality and customer service is a testament to the company's culture. We look forward to helping accelerate the growth of Kofile's brand and product portfolio across a national footprint.”
Tim Mack, Managing Director at Audax Group, added, "We are impressed by the business that Michael and team have built over the years, and are excited to invest behind them for the company’s next stage of growth. We believe Kofile is well positioned to continue expanding its high-quality suite of products and services for the public sector."
Shea & Company, LLC served as financial advisor and Gunderson Dettmer served as legal advisor to Kofile.
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Kofile is a leading provider of information management and access systems solutions for government agencies in the U.S. The company partners with government agencies nationwide to help them meet their citizens’ needs by modernizing information management and access systems, digitizing and distilling the intelligence of billions of records and documents, providing secure technologies to manage information accessibly, and to deliver these solutions on a fast and scalable basis. Founded in 2009, the company has grown rapidly and serves more than 50 percent of counties with over one million residents, including 75 percent of the country’s fastest-growing counties. For more information, visit Kofile at www.kofile.com.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 130 platforms and 800 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.