Tech Dealmaker Awards

Boston private equity investment firm sent $38 million down Interstate 95 to a southwestern Connecticut software company.

Boston-based ABRY Partners led the recapitalization of Westport, Conn.-based Triple Point Technology Inc., investing $38 million in convertible preferred stock in Triple Point for a majority ownership position in the company.

Founded in 1993, Triple Point offers trading and risk management information software for industries including power, oil, gas, coal, metals, agricultural products, and freight. The company’s information management tools are used by over 25 percent of both Global 500 commodity trading companies and Global 500 energy companies. Triple Point’s Commodity XL software is intended to improve decision making and increase trade processing efficiency.

Working with ABRY, Triple Point intended to pursue substantial growth opportunities through complementary acquisitions.

ABRY Partners, based in Boston and founded in 1989, is one of the largest private equity funds in North America, investing exclusively in the media, communications and information industries—including newspapers, internet providers, video game companies, movie theaters and healthcare information technology providers. ABRY has over $7 billion of assets under management and since 1989 has completed over $18 billion of leveraged transactions in the media, communications and information industries.

Under the agreement, Triple Point’s CEO Peter Armstrong and COO Paul D’Amico own the rest of the shares.

Triple Point, which employs 237 people, acquired CoralGrid Software Ltd., a Chennai, India-based precious metals software developer, in September.

— Bridget Botelho is a freelance writer in Providence, R.I.

Category

Top Recapitalization/Financing Deals

The Deal

ABRY recapitalized Triple Point Technology Inc. in a $38 million deal. Closed on Aug. 17, 2006.

Key Executives

Peter Armstrong, CEO, Triple Point Technology; Paul D’Amico, COO, Triple Point Technology; John Hunt, partner, ABRY.

Deal advisers

Marlin & Associates LLC.

• Platinum Sponsor:
• Gold Sponsors: Capital Source
  Silicon Valley Bank
  TM Capital
  Vitale, Caturano & Co.
• Silver Sponsors: Capital IQ
  Citizens Bank
• Supporting Sponsors: Mass High Tech
  Preston Productions
  Trinity Communications

Become a Sponsor »