Clearlake Capital Group To Acquire Agilysys Retail Solutions Group

Acquired Company to be Renamed Kyrus Solutions on Transaction Close; New Entity to Grow Presence Providing IT Solutions to Leading Retailers Worldwide

Clearlake Capital Group, L.P. (“Clearlake”) recently announced definitive agreements to acquire the Retail Solutions Group (“RSG”) of Agilysys, Inc., through a newly-formed affiliate, Kyrus Solutions, Inc. (“Kyrus Solutions” or the “Company”). The transaction is expected to close in the early summer.

RSG, which will be renamed Kyrus Solutions upon the close of the transaction, is one of the leading technology and managed services solution providers in the retail market worldwide, offering retail point-of-sale, self-service and wireless mobility solutions and proprietary business consulting, implementation and maintenance, support, and other managed services. The Company has a 35-year successful track record of positively impacting retailers’ business operations by streamlining operations, improving the customer experience, and increasing loyalty – all while reducing IT costs. The Company will continue to be based in Greenville, South Carolina and Paul Civils will remain the General Manager.

“We are excited to partner with the talented management team of RSG as we make a significant investment in the Company and create a strong and focused standalone entity, Kyrus Solutions,” said Behdad Eghbali and Prashant Mehrotra of Clearlake. “With its long-standing reputation for exceptional technology solutions, service delivery, customer focus, and innovative managed services solutions, coupled with Clearlake’s capital resources and operational capabilities, we believe the Company is ideally positioned to benefit from significant market trends, including the continuing investment in technology solutions by retailers.”

Keith Bradley, a Clearlake Executive Operating Advisor, will become the Company’s Executive Chairman upon the close of the transaction. Mr. Bradley brings significant expertise and experience to Kyrus Solutions, most recently as the President of Ingram Micro North America.

“Kyrus Solutions is a strong platform that is extremely well-positioned for future growth,” added Mr. Bradley. “I look forward to working with Paul and the rest of the management team to drive the Company’s growth strategy of providing our customers with cutting edge solution innovation and industry leading service and support.”

Along with Mr. Bradley, Mr. Eghbali, Mr. Mehrotra and James Pade of Clearlake will join the Company’s Board of Directors.

Atlas Technology Group advised Agilysys on the sale of RSG to Clearlake.

About Kyrus Solutions
Agilysys, Inc.’s Retail Solutions Group, which will be renamed Kyrus Solutions following the close of its acquisition by affiliates of Clearlake Capital Group, L.P., is one of the leading technology and managed services solution providers in the retail market worldwide, offering retail point-of-sale, self-service and wireless mobility solutions and proprietary business consulting, implementation and maintenance, support, and other managed services. The Company has a 35-year successful track record of positively impacting retailers’ business operations by streamlining operations, improving the customer experience, and increasing loyalty – all while reducing IT costs.

About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm focused on special situations and private equity investments such as corporate divestitures, recapitalizations, buyouts, reorganizations, turnarounds and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in dynamic businesses. Clearlake currently manages approximately $1.4B of equity capital, and Clearlake’s founding principals have led over 50 investments totaling more than $3B of capital in sectors including business services, communication, consumer products/retail, defense/public safety, energy/power, healthcare, industrials, media, and technology. For more information, visit www.clearlakecapital.com.