NewSpring, a family of private equity funds, announced today that NewSpring Mezzanine, the Firm’s dedicated mezzanine fund, has invested in Pillar Technology Group LLC. Proceeds from the transaction will be used to expand the Company’s geographic footprint to capitalize on new customer bases and develop new product offerings.
Founded in 1996, Pillar Technology is a technology consulting firm that offers its clients the opportunity to solve business problems in a no-constraints, creative, collaborative environment. With expertise in design thinking, embedded solutions, and highly-complex software development, Pillar continues to drive efficiency and innovation for next-generation digital interfaces, autonomous vehicles, smart cities, and other leading-edge fields. Pillar Technology is headquartered in Columbus, Ohio, with additional locations in Des Moines, Iowa; Ann Arbor, Michigan; and Palo Alto, California.
“The expertise and experience offered by NewSpring provides us with the resources necessary to help establish another Forge, our version of a think tank, ultimately expanding our geographic reach,” said Bob Myers, Pillar Technology CEO. “This geographic expansion will allow us to deliver more innovative technologies with improved quality to all of our clients across the nation.”
“Pillar Technology is a leader in agile consulting, creating software at a fast pace within their large and growing market—enabling them to establish themselves as an industry leader,” said Greg Barger, NewSpring General Partner. “We look forward to working with Bob and the Pillar Technology team to accomplish their expansion goals while further capitalizing on their already significant growth.”
About Pillar Technology
Pillar Technology is a technology powerhouse rooted in extreme programming and flourishing in rock-solid code, design thinking and marketing. Pillar works with clients to breathe life into big ideas, delivering industry-disrupting opportunities at lightning speed. From building embedded software for the world’s most powerful science database to creating smart grid platforms for energy efficiency, Pillar has helped a variety of Fortune 500 organizations solve some of the most pressing issues of the 21st century through revolutionary digital solutions. With a focus on delivering high-impact business value, encouraging individual creativity and fostering team collaboration, Pillar Technology exists to unleash your potential. For more information, visit www.pillartechnology.com.
About NewSpring
Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $1.7 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. When NewSpring invests, they bring a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.
