CognitiveTPG under new ownership structure
FOR IMMEDIATE RELEASE
CognitiveTPG under new ownership structure with DeltaPoint Capital Management,
Boston Harbor Capital, and Crofton Capital
Pictured Above from Left to Right: Kyle Turner, President & CEO of CognitiveTPG, Thomas P. DiNapoli, New York State Comptroller, and David Waterman, Managing Director at DeltaPoint.
ITHACA, NY – September 25, 2012
CognitiveTPG has been acquired by private equity firm DeltaPoint Capital Management LLC together with co-investors Boston Harbor Capital Partners LLC, and Crofton Capital LLC.
DeltaPoint Capital Management, LLC is a Rochester, NY-based private equity fund manager that makes lead-sponsored investments in companies with proven cash flow, a strong management team, and solid opportunities for growth. Partnering in the transaction with DeltaPoint Capital is the New York State Common Retirement Fund. CognitiveTPG was previously owned by Huntington Capital Partners.
“We recognize CognitiveTPG as a market leader and are eager to become an integral part of its continued success. DeltaPoint’s operational experience and access to significant capital combined with CognitiveTPG’s established product platform and market position will allow us to become a more reliable supplier to current loyal customer base and future customer base,” said David Waterman, Managing Director at DeltaPoint.
Kyle Turner will remain President and CEO of CognitiveTPG. “I am excited about the opportunity and believe that with DeltaPoint and the investor group on board we are in the position to exceed our goals in every aspect of the business, from products and services to customer service and support,” said Kyle Turner, President and CEO for CognitiveTPG.
“A smooth "behind the scenes" transition between our current and new owners is anticipated, with no interruption in daily business transactions. I also foresee an increase in productivity and resources available to CognitiveTPG and its customers,” said Turner.
About DeltaPoint Capital Management
DeltaPoint Capital Management is a Rochester based private equity firm that makes lead-sponsored investments in companies with proven cash flows and strong management teams and that are principally located in the Northeastern United States. DeltaPoint Capital Management focuses on businesses with annual revenue of at least $10 million in the manufacturing, distribution and specialized service sectors. The firm's strategy is to rely on its strong partnerships with company management teams and long history of operating and financial experience to help drive value creation at its portfolio companies. For more information, visit: www.deltapointcapital.com.
About Boston Harbor Capital
Boston Harbor Capital is a private equity firm that invests entrepreneurial capital with experienced business partners in the buyout, growth, and recapitalization of growing middle market companies. The firm focuses on creating value through creativity, hard work, and by fostering a collaborative partnership with its business partners. For more information, visit: www.bostonharborcapital.com.
About Crofton Capital
Crofton Capital is a growth private equity firm based in the Boston area that invests in and provides strategic resources to small and midsize businesses based primarily in the northeast. The firm supports the growth of each business over the long term through collaboration with the management team. For more information, visit: www.croftoncap.com.
CognitiveTPG is a leading provider of on-demand barcode and transaction printers to the retail, healthcare, manufacturing, service, and financial sectors worldwide. For over 35 years, CognitiveTPG has provided its customers with compact, economical, and ultra-reliable printing solutions that offer significant returns on investment. Visit us at www.CognitiveTPG.com