Hyde Park Capital Closes Private Equity Offering for Decision Management International
Tampa, Florida - May 31, 2001 - Hyde Park Capital Advisors, LLC (Hyde Park Capital), a Tampa-based, technology-focused investment banking firm and member of the NASD and SIPC, today announced the successful completion of a $14 million private equity offering on behalf of its client, Decision Management International, Inc. (DMI) of Bradenton, Florida.
As the exclusive placement agent for DMI, Hyde Park Capital, the broker dealer subsidiary of Hyde Park Capital Partners, LLC, raised equity capital from a blue-chip list of private equity firms led by MedEquity Investors, LLC and Halpern, Denny & Co. Peter R. Gates, Managing Director of MedEquity, and George P. Denny, 111, Partner of Halpern, Denny, will join the DMI board of directors.
DMI is a rapidly growing global software and professional services provider focused on serving FDA regulated industries. DMI provides customers with integrated, efficient and cost effective software and consulting solutions used in the manufacture of FDA regulated products, primarily in the pharmaceutical, biotechnology and medical device industries.
"DMI's product offerings are compelling in their ability to automate and reduce the amount of paperwork involved in manufacturing by up to 50 percent. In many cases,this can enable plants to speed up production by as much as 30 percent," said lohn H. Hill, Ir., Managing Director of Hyde Park Capital. "DMI and its management team, led by co-founders Stephen S. Hann and George M. Benevento, have a proven track record within their industry, working with major pharmaceutical, biotech and medical device companies. With this financing, DMI can further penetrate an estimated $4 billion market opportunity and can leverage its technology to move into other FDA regulated industries."
"We are very pleased that Hyde Park Capital has been able to secure this round of funding for us," said Steve Hann, co-founder and CEO of DMI. "It will allow us to aggressively move to the next level - to add to our suite of software applications and to respond more rapidly to our existing customers' and prospects' needs.
"Hann continued, "We believe that regulatory compliance issues will become more and more critical to FDA regulated companies going forward. The infusion of equity capital at this pivotal stage in our development will allow us to build the necessary infrastructure to support that market expansion and become an industry leader."
Currently, DMI's proprietary software solutions and consulting services benefit customers in many ways, including reducing process complexity and paperwork,streamlining documentation and approval processes, improving manufacturing yields and efficiencies, reducing errors, enhancing regulatory compliance, shortening product development cycles, reducing the probability of costly product recalls and reducing production costs.
"Our clients look to us for a turnkey solution when it comes to reducing the complexity and cost of complying with federal regulations," said George Benevento. "We will most likely hire over 30 people by the end of the year to keep pace with demand," he added. Currently, DMI employs 48 employees with offices in the U.S., Canada and Switzerland.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused boutique investment bank primarily serving the corporate finance needs of private and public companies in Florida and the Southeast. Hyde Park Capital's principals have significant transaction experience raising private capital for companies, including equity, mezzanine and debt, and successfully executing merger & acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory and fairness opinions. Hyde Park Capital has significant experience in the financial services,technology, healthcare, consumer, and manufacturing sectors, but is broadly focused on representing outstanding companies in any industry. Hyde Park Capital has offices in Tampa, Florida and Charlotte, North Carolina and is a member of the NASD and SIPC. For additional information about Hyde Park Capital visit www.hvdeparkcapital.com or call (813) 383-0202.