TAMPA, Fla.–(BUSINESS WIRE)–June 16, 2003–Hyde Park Capital Advisors, LLC is pleased to announce the sale of CyLex Systems, Inc., a Boca Raton, Florida-based document management software company,to Ricoh Company Ltd. Hyde Park Capital Advisors, LLC, the investment banking subsidiary of Hyde Park Capital Partners, LLC served as CyLex’s exclusive financial advisor in the transaction.
Ed Carroll, CEO of CyLex, commented on the transaction, “We believe that the combination of the CyLex content management solution within the Ricoh organization is very compelling and we are confident that CyLex’s customers and employees are in capable hands.”
Among CyLex Systems’ financial backers are several of the leading institutional investors in the Southeast, including HIG Capital and Stonehenge Capital. Brian Schwartz, Managing Director at HIG Capital, said of the transaction, “CyLex and Ricoh have been strategic partners for two years. Because of success the two companies have enjoyed together, it was a natural next step that Ricoh should own CyLex’s underlying technology. We were very pleased that we could exit this investment with a highly reputable buyer who fits so well with CyLex.” Steve Lux, Managing Partner at Stonehenge Capital, added, “We are pleased on the successful sale of CyLex to Ricoh and appreciate Hyde Park Capital’s assistance on this important transaction.”
“Our team at Hyde Park Capital appreciates the opportunity to work with CyLex and its institutional investors. We are pleased to have participated in this sale transaction resulting in a successful exit for them,” said John H. Hill, Jr., Managing Director of Hyde Park Capital.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused middle market merchant bank primarily serving the investment banking needs of private and public companies in Florida and the Southeast. Hyde Park Capital’s principals have significant transaction experience raising venture and growth capital for its corporate companies, including equity, mezzanine and senior debt, and successfully executing merger & acquisition engagements, including sale of company assignments, recapitalizations, “going private” transactions, financial advisory and fairness opinions. Hyde Park Capital has broad industry experience and a core competency in technology, communications and healthcare, although the firm seeks to represent outstanding companies in any industry. Hyde Park Capital has headquarters in Tampa, Florida and is a member of the NASD and SIPC. For additional information about Hyde Park Capital visit http://www.hydeparkcapital.com or call 813/383-0202.
About CyLex Systems, Inc.
CyLex Systems, Inc. provides a comprehensive document management software application, I-DOX, to both large and small companies. CyLex uses Documentum’s (Nasdaq:DCTM) leading document management technology and developed a suite of document management applications specifically designed for delivery over the Internet. This application service provider (ASP) approach enables companies to cost-effectively utilize CyLex’s I-DOX application to improve their overall operational efficiency and document management capabilities. CyLex capitalized on the need for document management (“DM”) capabilities by providing DM products and enabling technologies as a remotely managed service, eliminating customers’ need to install and maintain large-scale, high cost DM implementations. For more information about CyLex visit http://www.cylex.com.
About Ricoh Company Ltd.
Ricoh Company Ltd., headquartered in Japan, is a leading worldwide supplier of office automation equipment. The Company supplies copiers, facsimile machines, data processing systems and related products. Ricoh also supplies electronic devices and photographic equipment. Other products include printers, personal computers, CD-recordable and CD-rewritable drives and media, digital copiers, scanners and software. In addition, the Company provides comprehensive document management solutions that streamline customers’ businesses and cut operational costs. For more information about Ricoh visit http://www.ricoh.com.
About Stonehenge Capital
Stonehenge Capital Corporation is a private venture capital management firm providing equity and mezzanine financing for both early and later-stage growth-oriented companies. Stonehenge was formed in 1999 by the former principals of Banc One Capital Markets, Inc., the venture capital and investment-banking subsidiary of Bank One Corporation. Stonehenge Capital Corporation currently manages several distinct private equity funds with approximately $500 million in capital through its offices in New York, Louisiana, Florida, Ohio, Missouri and Wisconsin. For additional information about Stonehenge Capital visit http://www.stonehengecapital.com or call 813/223-9335.
About HIG Capital
H.I.G. Capital is a leading private equity and venture capital investment firm with more than $1 billion of equity capital under management. H.I.G. has offices in Miami, Atlanta, Boston and San Francisco. H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. For additional information about H.I.G. visit http://www.higcapital.com or call 305/379-2322.
