Tampa, Florida - August 12, 2002 - Hyde Park Capital Advisors, LLC, a Tampa based, technology and healthcare focused investment banking firm and member of the NASD and SIPC, today announced the successful completion of an $11.5 million private equity offering on behalf of its client, V3 Systems, a leader in enterprise supply chain execution and warehouse management applications for automating business processes. According Venturewire data, this is the largest Series A private placement completed in the Southeast year to date and represents one tenth of thetotal capital raised in the southeast in the enterprise software category in 2002.
As the exclusive placement agent for V3 Systems, Hyde Park Capital Advisors, the broker/dealer subsidiary of Hyde Park Capital Partners, LLC, managed the private placement for V3. Four leading mid-Atlantic based private equity firms comprised the V3 investment syndicate, led by Sterling Venture Partners of Baltimore and including Draper Atlantic Management, Spacevest Management Group and Updata Venture Partners, all of Reston, Virginia.
V3 Systems will use the capital to expand global sales and marketing campaigns,increase product development commitments, and support international deployment of its supply chain and warehouse management software, which has seen wide acceptance in the US, European, and Asian markets. V3's roster of diverse, blue chip customers include Dell, Compaq, Nokia, Applied Textiles, Signature Distribution, USCO Logistics, Eagle Global Logistics and Furman Foods.
"This investment in V3 Systems is tangible recognition of our ability to create and implement a product of value, and will allow us to bring V3 Systems to new, global markets," said Ashley Campbell, President and Chief Executive Officer of V3 Systems. "We were pleased with the work of Hyde Park Capital on our behalf. Their assistance in managing and helping us close this important private equity financing with a high quality and prestigious investor group, in a particularly difficult market environment, was very meaningful."
"We were delighted that the round was oversubscribed despite the difficult current market conditions," said John H. Hill, Jr., Managing Director of Hyde Park Capital." Investors clearly see V3 as a significant emerging software player in the supply chain execution area. There is a high degree of confidence in the company's technology and that its strong management team, as lead by Ashley Campbell, co-founder and CEO, and Paul Weiss, co-founder and CTO, will successfully execute aggressive global expansion plans and successfully scale the Company. We are very optimistic about the future of V3 based upon this new growth capital and the value add of this highly credible and experienced investor group."
About V3 Systems
V3 Systems is the leader in innovative enterprise supply chain execution and warehouse management applications for automating business processes and providing supply chain visibility across global distribution networks. Software from V3 Systems turns demand into revenue by optimizing logistics, warehouse management, manufacturing and enterprise distribution processes. Responding to industry demand for Web-delivered enterprise applications and collaborative commerce, V3 Systems offers both traditional server-based supply chain execution solutions and flexibly priced, hosted solutions with the capability to deploy secure inventory and demand management functionality across multiple locations and business partner networks. V3 Systems provides global service and support for its solutions from locations in North Carolina, Texas, California, Florida, Singapore, and Australia. For more information about V3 Systems supply chain execution solutions, visit www.V3Systems.com or call (877) 343-0057.
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.hydeparkcapital.com or call (813) 383-0202.