Hayes Software Systems, the leader in inventory control software and services for the K-12 education market, announced its recent acquisition by Transition Capital Partners (“TCP”) effective February 28, 2017.
Mike Hayes, the company’s former Chairman, will transition to a consultative role while Matt Winebright remains as the President and CEO.
Incorporated in 1990, Hayes provides SaaS software and service solutions designed to educate school districts on how to best manage their inventories. Now serving 31 of the largest 100 school districts in the country, this investment by TCP propels the continued momentum for Hayes.
“When my father and I started this company, our goal was to create a product that continued to have an ever-increasing impact on education,” said Mike Hayes. “As our business has grown, so have our aspirations. TCP not only brings strong experience and background to Hayes, but they also offer support of the organization’s growth. I’m thrilled for TCP to step in as owners and I look forward to seeing the company’s continued success.”
Hayes’ corporate office will stay in Austin, TX and the core focus will continue to be on the K-12 market. “The synergy I’ve already felt with TCP has been a fantastic match to our company culture as well as future goals,” said Matt Winebright. “They believe in what we’re doing, appreciate how much we value our customers, and are excited about the innovativeness we display in the area of inventory management. Having their guidance, backing, and support as we continue to break new ground will be incredibly valuable.”
TCP has successfully invested in more than 40 middle market companies, spanning a diverse array of industries, including education. “Hayes’ commitment to its customers and its products, as well as their focus on K-12 has helped set a standard in how critical effective inventory management is for school districts across the country,” commented Andy Foskey, TCP Managing Partner. “TCP is very excited to partner with Hayes and support the continued advancement of the already robust product offering, ensuring they continue to offer the best products and services for their customers.”
Plexus Capital supported TCP’s acquisition of Hayes by providing mezzanine debt and a minority equity investment.
