Spire Capital Announces Sale of Velocity Technology Solutions

New York, July 16, 2012 – Spire Capital Partners, a leading lower

middle market focused private equity firm specializing in investments in the

business services, information services, education, media and communications

sectors, announced the sale of Velocity Technology Solutions, Inc.

(“Velocity”), a leading cloud-based application hosting company, to Silver Lake

Sumeru Fund LP (“Silver Lake”) and Velocity management, a global leader in

middle-market technology investing.

Founded in 2003, Velocity serves hundreds of enterprise customers

in North America across a variety of industries.  The Company provides a highly reliable and

scalable cloud-based hosting platform that allows customers to focus on the

strategic requirements of their businesses without the complexity, cost and

resource demands associated with managing and supporting mission-critical ERP

applications.  Velocity’s extensive

knowledge base in ERP application functionality provides highly responsive

support for all customer needs while helping enterprises realize the full

potential of their ERP solutions.


“Velocity has established itself as the leader in fully managed

hosting of enterprise software with deep product expertise and services

capabilities,” said Sean White, a partner at Spire Capital. “The management team,

led by founder Tom Bruno, did an excellent job of creating the largest independent

ERP application hosting company as evidenced by Velocity’s extensive blue chip

list of customers with long-standing relationships. The platform management has

built is positioned for significant growth as cloud-based application hosting

continues to grow rapidly.”

“We are extremely proud of the results we achieved during our

partnership with Spire Capital,” Bruno said. “The partners and executives at Spire

Capital were very involved in growing Velocity and we appreciate their strategic

direction and guidance.” Tom Bruno will continue to lead the company along with

the other members of the executive team. 

Silver Lake Sumeru and an investor group which includes management

have signed a definitive agreement to acquire 100% of the issued and

outstanding shares of Velocity. The transaction is expected to close during the

third quarter of 2012.  Stifel Nicolaus

was the financial advisor and SNR Denton provided legal counsel to the Company

on the transaction. In addition to Spire Capital, Tudor Ventures and EisnerAmper

were selling shareholders in Velocity.

About Spire Capital Partners

Spire Capital Partners, L.P. is a private equity firm founded in

2000, and has more than $575 million of capital under management. Spire Capital

partners with exceptional management teams to invest in lower middle market buyouts,

recapitalizations, industry consolidations and growth equity investments in the

business services, information services and communications industries. Spire

Capital typically invests between $10 million and $40 million in companies with

enterprise values from $25 million to $400 million. Spire Capital and its

predecessor funds have made investments in more than 25 portfolio companies.

The firm is headquartered in New York. 

For more information, visit www.spirecapital.com.

About Velocity

Velocity, the “ERP in the cloud company,” provides managed hosting

services for ERP applications.  The

Company is reinventing the process of enterprise software acquisition, hosting

and management—providing customers with much greater availability, security,

and control over their in-house IT systems—and ultimately, their business.  Velocity serves hundreds of customers with

the great depth of application expertise on which the organization was founded.

The company is strong and profitable with an eye toward continuing investment

in its future—extending support to additional application suites, innovating

application environment tools that provide transparency and control over

software in the cloud, building the application social network that enhances

the ERP customer experience and creating a highly-flexible application

environment that enables customers to outperform peers in the marketplace.  For more information, visit www.velocity.cc.

About Stifel Nicolaus

Stifel Financial Corp. (NYSE: SF) is a full-service brokerage and

investment banking firm, established in 1890 and based in St. Louis, Missouri.

The Company provides securities brokerage, investment banking, trading,

investment advisory, and related financial services to individual investors,

professional money managers, businesses, and municipalities. Stifel Nicolaus

Weisel (SNW), the Investment Banking arm of Stifel Nicolaus, is principally

focused on the middle-market. SNW manages public offerings of equity and debt

securities, raises debt and equity in the private markets, and advises on

mergers, acquisitions and divestitures. SNW boasts thirteen industry focused

investment banking groups together with specialty groups providing coordinated

financial sponsors coverage and private placement expertise.

About SNR Denton

SNR Denton is a client-focused international

legal practice delivering quality and value. SNR Denton serves clients in key

business and financial centers from more than 60 locations worldwide, through

offices, associate firms and special alliances across the US, the UK, Europe,

the Middle East, Russia and the CIS, Asia Pacific and Africa, making it a top

25 legal services provider by lawyers and professionals. Please see

snrdenton.com for more information and Legal Notices.


Sean White

Spire Capital

1500 Broadway Suite 1811

New York, NY 10036

(212) 218-5454