Princeton, NJ (PRWEB) December 22, 2015
Edison Partners announced today the strategic acquisition and successful exit of Archive Systems to Access, a Berkshire Partners portfolio company.
Headquartered in Fairfield, NJ, Archive Systems has transformed the physical records management industry by creating a digital document management solution that helps local businesses to Fortune 50 global enterprises transition to electronic storage. “Archive Systems has been a pioneer in digital document management and the move to the paperless enterprise,” said Joe Allegra, General Partner of Edison Partners. “Gordon Rapkin and the team have executed on their vision of changing the economics and workflow of digital and physical document management, achieving high-margin digital revenues that far exceed the rest of the records management industry.” Allegra led Edison’s investment and served on the board along with Edison Director Network member Jim Foster, and co-investors Brian Hayhurst and Michael Gozycki of The Carlyle Group, and co-founder Rick Kushel.
Archive Systems has experienced double-digit growth in the last several years, and grew earnings over 60% in the last year leading up to this transaction. “Joe and the Edison team provided the strategic guidance and support to help us to realize our vision,” said Gordon Rapkin, CEO of Archive System. “We are extremely proud of the company we have built together and excited for the next phase of our journey as part of Access.”
Edison Partners has financed and guided more than 200 private companies, including 46 Enterprise 2.0 companies, encompassing security and cloud leaders that automate core business processes and solve infrastructure challenges. Noteworthy exits include Assessment Systems, Axent, InSoft, Marcam, Octagon, Tangoe, VirtualEdge, Notable Solutions, Uptivity and VFA. Current Enterprise portfolio companies include Billtrust, Kemp Technologies, Logfire, MotionSoft, Neat and Operative.
About Archive Systems
Archive Systems delivers unified document management solutions that provide a bridge between paper and digital records storage and control. Services include cloud solutions for human resources document management as well as many other document-centric business processes, nationwide off-site physical records storage and services. By uniquely managing all stages of the record lifecycle, Archive Systems is changing the way the world manages documents. For more information, please visit http://www.archivesystems.com .
About Edison Partners
For 29 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing software industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Princeton, NJ, McLean, VA, and Cleveland, OH, manages more than $1 billion in assets throughout the eastern United States.