For Immediate Release
October 3, 2006
Contact: Maryam Kubasek
513.583.5413, ext. 188
Cincinnati—The Malibu Group was on board for the recent acquisition of Computer Resources Corporation in Louisville, Ky., by Software Solutions, Inc. The Blue Ash-based mergers and acquisitions consulting firm managed the search process, helped structure the deal and shepherded the transaction to close.
Malibu worked with SSI to strategically think through growth options and together determined that CRC was a good opportunity. In addition, Malibu made the initial approach to CRC’s founder, Mike Grebe, and assisted him in determining if a merger would be a good thing for his firm. The CRC – SSI merger doubled the number of clients and tripled number of states that SSI/CRC now reaches.
Software Solutions Inc. is a leading supplier of accounting, billing, and document and meeting management solutions for local governments, utilities, and other public sector organizations in Ohio, Kentucky, Indiana, and other Midwestern states. CRC supplies accounting and billing solutions to rural water companies and other utilities in Ohio, Kentucky, Indiana, Tennessee, Missouri, and other nearby states.
"We have had a long-standing relationship with the Malibu Group,” noted Terry Moore, president of Software Solutions, Inc. “This was our first acquisition, and they guided us through the process of evaluating the target company, consulted on structuring a fair offer, then provided assistance during due diligence and closing. They stayed in constant contact and always followed through on commitments in a timely manner. We closed the deal recently and the transition has gone smoothly with no surprises."
The deal allowed Lebanon-based SSI to gain immediate access to CRC’s stable client base.
"Malibu people are top notch,” added Moore. “They are smart business people with excellent interpersonal skills. We plan to make more strategic purchases in the future and will not hesitate to turn to the Malibu Group for their guidance and expertise."