Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Chesapeake System Solutions, Inc. (“Chesapeake”) has been acquired by Trintech, Inc. (“Trintech”) a portfolio company of Vista Equity Partners and Spectrum Equity. Evergreen Advisors Capital acted as the exclusive financial advisor to Chesapeake.
Chesapeake delivers innovative financial software to the world’s leading retail, banking, corporate, insurance and financial institutions. Trintech is a leading provider of cloud-based financial solutions for the integrated Record-to-Report process. Trintech has over 900 clients worldwide with offices in the USA, UK, Australia, Netherlands, France, and Ireland, and partners in South Africa, Latin America, and Asia.
“We are thrilled to join an amazing team who, like us, works extremely hard to provide the highest level of customer satisfaction while transforming the systems and processes that make up the Record-to-Report market,” said Peter Vogelberger, CEO of Chesapeake System Solutions. “This is great news for our customers and our employees. Trintech shares our philosophy and vision for the future of the market, and we are excited to help expand their industry-leading Cadency® suite.”
Paul Klick of Evergreen Advisors Capital noted, “This transaction brings together two of the leading providers of enterprise class financial records management. Together they create a powerful platform serving the global marketplace.”
Terms of the transaction were not disclosed.
About Evergreen Advisors Capital
Evergreen Advisors Capital, LLC is a leading investment banking and corporate advisory firm focused on assisting emerging growth and middle-market companies in the areas of corporate finance, growth and exit strategies, valuations and advisory services. For more information, visit http://evergreenadvisorsllc.com/
About Chesapeake System Solutions
Chesapeake System Solutions provides financial close, transaction matching, cash management, and treasury solutions for the retail, banking, financial services, and insurance industries. Core products are T-Recs account reconciliation workflow software, UPCS unclaimed property compliance software, SmartTreasury financial risk management software, and SmartAnalysis bank statement analysis functionality. To learn more about Chesapeake System Solutions, visit www.chessys.com
Trintech is a leading provider of financial software solutions for the Record-to-Report process. Over 900 clients in 100 countries – including half of the Fortune 50 and the FTSE® 100 – rely on our solutions to optimize resources, reduce costs, manage risk and monitor activities across the entire finance organization worldwide. Trintech’s Cloud-based Cadency® software manages all aspects of the financial close – from automating and managing balance sheet reconciliation, journal entries, to governance, risk and compliance, and financial reporting. ReconNET™ streamlines daily operational reconciliations such as bank and credit card transactions. Trintech has offices located across the US, UK, Australia, France, Ireland, the Netherlands and the Nordics, with partners in South Africa, Latin America and across the Asia Pacific region. www.trintech.com