Menlo Park, CA – April 13, 2018 – Accel-KKR, a leading technology-focused investment firm, today announced that it has partnered with Green Mountain Technology (“GMT” or the “Company”), the leading provider of parcel optimization solutions, to provide a senior secured credit facility to support the GMT management team in its recapitalization of the Company.
GMT partners with companies shipping four million parcel shipments annually, helping them improve their ability to compete in parcel shipping. GMT’s Parcel Spend Management solution combines best in class parcel invoice audit and payment automation capabilities with the personnel and business model to become a highly engaged, strategic extension of their customers’ resources tasked with executing their vast and complex parcel networks. GMT brings a view of the market, analytical tools, resource bandwidth, and parcel expertise to companies such as Walmart, QVC, Pfizer, General Motors, AT&T Wireless, Costco, and Kohl’s. On average, customers see efficiencies in excess of 10% of overall parcel spend, net of GMT fees.
“Accel-KKR has proven to be a valuable partner in this transaction,” said Craig Russell, Co-Founder, President, and CEO of GMT. “They provided a streamlined financing solution and lived up to the high standard of execution they have established for themselves in the market.”
“We are excited to complete our investment in GMT. Through our diligence process, we came away impressed by GMT’s leading market position, the depth and quality of its management team, as well as the strong differentiation of the Company’s platform,” said Samantha Shows, Principal and Head of Credit Investing at Accel-KKR.
“We are excited to partner with the management team at GMT,” said Rob Palumbo, Managing Director at Accel-KKR. “This investment represents an attractive opportunity in the supply chain technology industry, which is a key target segment for our firm.”
Accel-KKR is a technology-focused investment firm with $4.3 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. For more information, please visit www.accel-kkr.com.
About Green Mountain Technology
GMT partners with the world’s largest parcel shippers to plan, execute and monitor high volume parcel networks. GMT’s Parcel Spend Management (PSM) solution simplifies network complexity, drives increased profitability, and enhances the customer experience through a suite of tech-enabled services. It starts with GMT’s best in class parcel audit and invoice automation, then leverages that data for advanced analytics, optimization, and ongoing network improvement and contract management projects. GMT’s highly engaged, strategic delivery model, unique network modeling and re-rating technology, and Fortune 500 customer base, uniquely positions GMT to deliver unparalleled value. GMT’s customers represent more than $4 billion in parcel spend and consistently experience a 5-10X return on investment in GMT, net of fees. GMT’s outcomes are proven by numerous customer honors including QVC’s Supply Chain Partner of the Year and Office Depot’s Partnership Award.
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