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Help/Systems Ownership Changes; Management Remains in Place

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Audax Group, a Boston private equity firm, has announced it has completed the acquisition of Help/Systems.

Headquartered in Eden Prairie, Minnesota, Help/Systems provides automated operations and business intelligence software for the System i market. Help/Systems products are designed to make the System i more reliable, cost effective, and productive by minimizing human operator involvement and enhancing access to valuable data.

Janet Dryer, president of Help/Systems, will continue to lead the management team, according to an announcement posted on the Audax Web site.

Geoffrey S. Rehnert, Co-CEO of Audax Group, said, "Help/Systems is a leading automation and business intelligence software company serving the IBM System i server market. We look forward to working with management to drive growth by penetrating international markets and completing strategic add-on acquisitions."

Janet Dryer, president of Help/Systems, said "We are excited to have Audax Group as our new partner. Their international experience sourcing and integrating add-on acquisitions will be a key asset for us as we expand our business globally across server platforms."

According to published reports, Audax Group purchased Help/Systems from Summit Partners, a private equity and venture capital firm with offices in Boston, Palo Alto, California, and London, England. Financial terms were not disclosed. Summit purchased Help/Systems in 2005, according to the reports.

Ropes & Gray LLP advised Audax Group. Jefferies Broadview advised Help/Systems. Goldman Sachs Specialty Lending Group, L.P. led a syndicate of lenders providing acquisition financing.

About Audax Group

Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $3.7 billion of equity, mezzanine debt, and senior loan capital. For more information, visit the Audax Group Web site http://www.audaxgroup.com/.

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The realm of cybersecurity and automation is always changing, and we’re evolving right alongside it. Say hello to Fortra, the new face of HelpSystems. We’re bringing you the same people-first support you’ve come to expect from HelpSystems, only now we’ve been Fortra-fied with the purpose of providing you with exceptional protection and peace of mind along every step of your journey. 

Our team of expert problem solvers is ready to find answers to your organization’s toughest problems, and our best-in-class portfolio ensures that we’ll land on an integrated, scalable solution that’s right for you. 

We’re tenacious in our pursuit of a stronger, simpler future for cybersecurity. 

Who’s with us?

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