7 Mile Advisors advised LPA Systems, Inc. ("LPA" or “Company”) in its sale to LPA Software Solutions, LLC.
ROCHESTER, N.Y., January 1st, 2015 – LPA Systems, Inc., a full-service IBM Premier Business Partner, recently announced that it will operate under new ownership and leadership beginning in 2015. A small group of partners lead by Jim Carrick have acquired LPA Systems, Inc. and created LPA Software Solutions LLC.
LPA is a nationally known business analytics solution provider, headquartered in Rochester, N.Y with offices in Dallas, Houston and the Great Lakes region. It currently services more than 150 client accounts ranging from multi-billion dollar Fortune 500 companies to Mid-Market firms with fewer than 50 employees. LPA specializes in reselling and implementing business analytics products such as Cognos BI, TM1 financial performance management, SPSS predictive analytics, and ESRI location analytics. In addition, LPA has expertise in Big Data analytics using IBM’s Pure Data System, powered by Netezza.
LPA Systems, Inc. was founded by current owners Donald Soule and Katrina Adams. LPA Software Solutions will be owned and operated by a new leadership team spearheaded by Carrick as CEO, Betty Wall, vice president of business development and strategy, and Kevin Bryans, executive vice president and CFO. Don Soule will remain as president and Katrina Adams will continue as vice president of operations. All existing LPA Systems sales and consulting staff will transfer to the new LPA Software Solutions effective January 1st, 2015.
“I’m delighted to have met Jim and his team and even more excited that they are joining with us to help in moving LPA to the next level. Jim recently built a company that was #1 in customer satisfaction for its industry, and I know that the historical LPA commitment to customer success will be carried forward under the new team’s leadership,” said Don Soule.
LPA currently employs more than 35 consultants nationwide, most of whom are certified IBM practitioners in the business analytics space. With that capable team, LPA delivers services all across the United States.
Prior to purchasing LPA Systems, Carrick was the Chairman of the Board of Directors at Polaris Library Systems, which grew from $11M to $18M in sales under his leadership. Prior to that, Carrick was the CEO and president of Strategic Computer Solutions (SCS), which grew from $18M to $140M in sales during his tenure and won 2 IBM Beacon awards. Before joining SCS, Carrick spent 19 years at IBM in various sales and management positions.
Carrick is excited to be leading the LPA team, saying, “The customer centric culture and value system currently in place at LPA is very well aligned with the new leadership team. I look forward to working with LPA management, leveraging both their extensive technical and sales skills, combined with the IBM experience this collective team has, as we continue to build on the existing plans Don and Katrina have defined for LPA Systems. Every client is trying to gain more value from their data, predict future events and act proactively to drive better business outcomes and our solutions give them the tools to make those things happen.”
7 Mile Advisors was the exclusive sell-side advisor to LPA Systems.
For more about this transaction, please click here.
About LPA Systems, Inc.:
LPA Systems, Inc., is a business analytics and business intelligence company with highly focused target markets. The company was founded in 2001 by Donald Soule, Gentry Politte, Katrina Adams, and Raymond Shady, and currently has offices in Rochester, New York; Houston, Texas; and Dallas, Texas.
About 7 Mile Advisors:
7 Mile Advisors is a boutique investment bank which enables clients to increase and unlock enterprise value. 7 Mile serves clients worldwide by addressing the transactional and strategic opportunities faced by middle-market companies, boards, and financial sponsors. The firm provides customized mergers & acquisitions, private placement and restructuring services. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC.
For more information, including research on the M&A markets, visit www.7mileadvisors.com
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