Emeryville, CA. Innovative Interfaces announced today that Huntsman Gay Global Capital and JMI Equity now fully own the company, having purchased the remaining shares from Innovative's founder, Jerry Kline. Kline also has resigned from Innovative's Board of Directors.
"I am very proud of Innovative's accomplishments over the past 33 years when I was at the helm," states Kline. "This step is a natural result of my evolving relationship with Innovative. Since February 2012 my participation has incrementally lessened: I stepped down as Chairman last August prior to this sale. I am very thankful to the many wonderful people I have collaborated with in libraries and at Innovative - it has been a privilege for me."
"Jerry's vision and leadership has been instrumental in making Innovative the international leader in library technology solutions that it is today," said Steve Young, Managing Partner of Huntsman Gay Global Capital. "The strong foundation that Jerry built provides a solid platform for future investment and strategic growth."
About Huntsman Gay Global Capital
Huntsman Gay Global Capital is a private equity firm that brings unrivaled experience to the middle market-offering all the advantages of both a strategic and a financial buyer in one firm. Co-founded by Jon M. Huntsman, one of the world's leading industrialists, and Robert C. Gay, a former managing director of Bain Capital, the firm focuses on middle market leveraged buyouts and growth equity investments. For more information on Huntsman Gay Global Capital, please visit www.hgequity.com.
About JMI Equity
JMI Equity is a leading growth equity firm focused on investin in growing software, internet, business services and healthcare IT companies. Founded in 1992, JMI has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management. JMI provides capital for growth, recapitalizations, acquisitions and buyouts. Representative investments include Blackbaud, DoubleClick, Eloqua, Navicure, Nimsoft and ServiceNow. For more information on JMI Equity, visit www.jmiequity.com.
About Innovative Interfaces
Innovative Interfaces creates cutting-edge products that allow libraries to succeed in a modern technology environment and the freedom to implement solutions that best meet their specific needs. The company's versatile and market-leading solutions include: the Sierra Services Platform, the Millennium ILS, the Encore Synergy discovery application, Electronic Resource Management, and INN-Reach resource sharing. An established company with a vision for the future, Innovative connects with thousands of libraries of all types in over 50 countries. Innovative's commitment to service is reflected by its 24/7/365 Help Desk, Innovative University, and the CSDirect Web support center. The company is located in Emeryville, California with offices around the world.