Corum Client DRB Systems Receives Strategic Investment from Prairie Capital
The leading provider of software solutions to the car wash industry, DRB Systems, has received a strategic investment from Chicago-based private equity firm, Prairie Capital.
SEATTLE, Wash., June 4, 2014-- Leading technology M&A advisory firm Corum Group announced today that its client, DRB Systems, the leading provider of software solutions to the car wash industry, has received a strategic investment from Prairie Capital, a private equity firm based in Chicago. DRB provides turnkey systems including point of sale (POS) software, loyalty promotion modules, control solutions, and related products designed to enhance the consumer’s experience and the operational efficiency of the car wash operator.
“DRB is the unquestioned software leader for the conveyorized car wash industry, with a thirty-year history of strongly supporting their customers with their solutions,” said Tony Danielak, Prairie Capital Vice President. “We look forward to helping them build upon this success.”
“Prairie Capital and DRB both have a long history of success,” said Ward Carter, Corum Group chairman. “Prairie’s commitment to management and flexible approach made them a great fit to partner with DRB going forward.”
“I greatly appreciated the very deep and thorough process we went through with Corum,” said DRB President Dale Brott. “Because of that process, we had a number of options, which means I’m confident that we have selected the right partner.”
Corum Group is the global leader in merger and acquisition services, specializing in serving software and information technology companies worldwide for 27 years, with offices in eight countries. Experience makes the difference: Corum’s M&A advisors have completed more than 300 software M&A transactions across six continents, working with its clients through a proven business model to drive more than $7B in transaction value. Corum also does much to educate the industry with its conferences and webinars and the industry’s most widely distributed software and IT M&A research.
About DRB Systems
DRB Systems, founded in 1984 and based in Akron, Ohio, is the leading provider of point of sale (POS) software, loyalty promotion modules, control solutions, and related products to the conveyorized car wash industry. Over the course of the Company’s thirty-year history, its products have been installed in all 50 states, Puerto Rico, and Canada and users of its technology solutions have cared for over three billion cars.
About Prairie Capital
Prairie Capital, founded in 1997, is a Chicago-based private equity firm focused on facilitating ownership transitions for lower middle market companies. Prairie is typically the first institutional investor in these entrepreneurial companies, with an aim toward growing and professionalizing the businesses. Prairie’s strengths include: exceptional responsiveness, a partner-oriented, entrepreneurial approach and great flexibility in structuring investments. Since its inception, Prairie has worked with talented entrepreneurs and experienced management teams across more than 82 platform investments, investing in the aggregate approximately $700 million. Prairie is currently investing from its fifth fund, the $300 million, Prairie Capital V, L.P.
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