Spire Capital Partners III Closes on Third Investment
March 28th, 2014
Spire Capital, a lower middle market private equity firm specializing in control-oriented investments in the business services, information services, education, media and communications sectors, today announced its acquisition of Accuship.com, LLC, Iron Data Solution’s Transportation Spend Management Division (“Iron Data TSM” or the “Company”). Iron Data TSM provides software-enabled transportation spend management solutions allowing globalenterprises to optimize their transportation spend. The Company’s network of more than 8,000 connections with trading partners and the resulting unique access to timely transportation spend data supports the Company's advanced analytics for end-to-end transportation spend visibility and management. Spire acquired all of the interests of the Company from Iron Data Solutions, the parent company of Iron Data TSM. This marks Spire’s third investment in its third fund, Spire Capital Partners III.
Headquartered in Memphis, TN, Iron Data TSM provides services to customers around the world across multiple end market verticals, including consumer, retail, manufacturing, technology, telecommunications, financial services, and healthcare among others. Over 30 Fortune 500 companies are existing customers of Iron Data TSM. Spire has partnered with the existing management team of Iron Data TSM, led by the Company’s President, Jerry Rau. “I am excited to partner with Spire Capital and lead Iron Data TSM into its next chapter of growth and evolution. With Spire Capital as our partner, we plan to further build out our suite of products to provide enhanced services to our existing customer base as well as new customers,” said Jerry Rau.
“We are excited to partner with Jerry and the other members of his management team,” said Sean White, Partner of Spire Capital. “The Company has developed a strong base of Fortune 500 clients and our strategy will be to invest significant resources into new product development as well as sales and marketing efforts.” Ben Meyer, Principal of Spire, added, “We believe that the TSM solution sector has significant global growth potential given the magnitude and complexity of today’s global supply chains. Iron Data TSM is uniquely positioned to take advantage of this market growth potential.”
Iron Data Solutions was advised by investment bank Stifel and Sheppard Mullin Richter & Hampton, LLP served as counsel to the Company. Denton’s served as legal counsel to Spire Capital and senior debt capital was provided for this transaction by Webster
About Iron Data TSM
Iron Data TSM employs more than 140 employees and is headquartered in Memphis, TN, with additional locations in St. Simons, GA; Amsterdam, Netherlands; Shenzhen, China; and Manila, Philippines. Iron Data TSM provides software-enabled transportation spend management solutions to large, established enterprises globally. The Company’s solutions help large shippers optimize transportation spending, improve supply chain visibility, allow for better collaboration with trading partners and identify business efficiencies and cost savings. Iron Data TSM serves customers in a variety of industries, including over 30 Fortune 500 companies. Please learn more about Iron Data TSM at http://transportation.irondata.com/.
About Spire Capital Partners
Founded in 2000, Spire Capital is an active and experienced private equity firm with an investment focus in companies within the business services, information services, media, education and communications sectors. Spire Capital leads buyout investments in its areas of expertise and believes its deep industry experience and network of relationships are invaluable in helping its portfolio companies grow and succeed. Spire Capital is investing out of its third fund and has managed over $700 million in private equity commitments since its founding. For more information please visit www.spirecapital.com.
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