Immediate value to customers in combined breadth of industry and market knowledge, resources, and expanded solution suites
New York – December 01, 2011 – OpenLink Financial, LLC (OpenLink), a leading provider of energy, commodities, trading, and risk management (E/CTRM) solutions, which support the entire transaction lifecycle, has completed the deal to acquire SolArc, a vanguard in commodity management solutions for companies operating across the commodity supply chain, with a particular strength in physical bulk commodities.
Kevin Hesselbirg, Chief Executive Officer, OpenLink, said, “For many years OpenLink and SolArc have discussed the merits of coming together in order to serve our customers in a more comprehensive manner. We are thrilled to have cleared the final regulatory and legal approvals and have now successfully completed our acquisition of SolArc.”
Brad Anderson, SolArc’s CEO, added about the newly combined company, “Customer feedback has been outstanding and validated our assumptions. Clients and prospects have been very positive about our commitment to the respective solution suites. They have also expressed enthusiasm about our ability to leverage the unique strengths of both product lines, and the benefits of our expansive breadth of industry and market knowledge.”
Hesselbirg furthered, “The combination of SolArc and OpenLink is evidence of our commitment and investment to meet the needs of our sophisticated, global customers today and for the future. The collective capabilities extend OpenLink’s leadership in physical bulk commodities and related logistics — NGL’s, coal, oil and agricultural products. We look forward to working with our valued customers to continue to create innovative solutions to meet their needs. We are confident that the combined talents of the two organizations will drive the next phase of our growth.”
Media Contacts:
Cognito, Caitlin Mitchell, +1 (646) 395-6300 OLF@cognitomedia.com
About OpenLink
Founded in 1992, OpenLink provides decision support software solutions for transaction lifecycle management. This encompasses financial and physical cross-asset trading, risk management, related operations processing and portfolio management for commodity, energy and financial services markets and industries globally.
OpenLink’s client base of more than 540 clients worldwide includes 13 of the top 25 largest commodity and energy companies by market capitalization, eight of the largest financial institutions and 11 of the largest central banks, as well as major hedge funds, commodities companies and public utilities.
Headquartered on Long Island, New York and with offices in New York City, Houston, Dallas, Tulsa, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow and Toronto, OpenLink has more than 1,300 employees worldwide. Please visit www.OpenLink.com.
Carlyle exits OpenLink Financial to Hellman & Friedman
12 Sep 2011Global private equity firm Carlyle has agreed to the secondary sale of OpenLink Financial to Hellman & Friedman for an undisclosed sum.
The company was acquired through the firm’s $13.7bn Carlyle Partners V vehicle in November 2009 from TA Associates, one of the oldest private equity firms in the US.
OpenLink was established in 1992 and provides cross-asset trading, risk management, and related portfolio management software for clients in the global commodity, energy, agribusiness, commercial and industrial and financial industries.
The company is headquartered in Long Island, New York, and has offices in Houston, London, Berlin, Vienna, São Paulo, Sydney, and Singapore. It currently employs over 1,000 staff, and boasts revenue growth of more than 20 per cent per year since 2006.
“Since partnering with Carlyle, OpenLink has significantly expanded our leading market presence through entering new geographies and end-markets, including via two complementary acquisitions, increasing R&D and capital investments by over 20 per cent, and adding more than 250 new employees,” said Kevin Hesselbirg, CEO of OpenLink.
“Partnering with Hellman & Friedman will enable us to further develop our product and service capabilities, reach new markets and continue to pursue complementary acquisitions. Our partnership with Carlyle has been fruitful and we are grateful for their counsel and efforts,” he added.
Cam Dyer, a principal on Carlyle’s US buy-out technology sector team, said, “OpenLink has been a great growth story. Geographic expansion, complementary acquisitions, and increased internal investment have all led to significant revenue and EDITDA growth.
“CEO Kevin Hesselbirg and his team have delivered superior technology solutions and outstanding results for their clients and our investors. We believe OpenLink has a bright future and we wish it continued success under Hellman & Friedman’s ownership,” he added.
Also this month, Caryle filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering of its common units.
The announcement ends a long period of speculation as to when the firm would join other publicly listed private equity investors such as Blackstone and KKR.
Copyright © 2011 AltAssets
- Acclaimed Financial Group
- Hp10bii Financial Calculator
The HP 10bii Financial Calculator, an affordable easy-to-use financial calculator for students and professionals
- Add Financial Ins
- Finance Lampasas Land Owner Sales Texas
- Investment Projects Financial Modelling
