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Classified in: Mining industry, Science and technology, Business
Subject: VEN

Enmark Secures Significant Growth Capital from Software Investor Accel-KKR


MENLO PARK, Calif. and ANN ARBOR, Mich., Nov. 16, 2021 /PRNewswire/ -- Enmark Systems, Inc., a market leader in ERP software for metal service centers and the developer of?award-winning ENITEO, an ERP software platform for the metal service center industry, today announced that?it has received a significant?growth?investment from?Accel-KKR, a leading technology-focused private equity firm. Effective immediately, Grant Stanis is named the CEO of Enmark Systems, succeeding President and Owner Michael Rybicki, who will continue to provide strategic direction as Enmark's CTO.

Enmark's flagship offering, ENITEO, is a purpose-built ERP software tailored specifically for metal service centers, an estimated $45.6 billion revenue industry by industry media Metal Center News. The cloud-based ENITEO was launched in late 2004 and has since become the most widely adopted ERP, pricing and inventory software platform for the metal service center industry. ENITEO utilizes advanced technology, including barcode scanning, touch-screen shop floor, and Microsoft Cloud services. Enmark has been named No. 1 among ERP systems and nesting software by Metal Center News.

With the ENITEO software platform, service center managers can assess and manage the health of their business in real time, track key performance indicators and study business trends. From quoting to shipping, service center sales teams can provide price and inventory quotes in the field with speed and precision, thereby driving sales, protecting margins while improving the overall customer experience. An integrated accounting module automates the flow of information from commercial transactions to accounting and financial systems, eliminating double entry and ensuring accuracy and speed to invoice. Orders flow directly from commercial to shop floor stations to facilitate smooth work order and provide shop floor supervisors with advanced production controls.

"With this announcement, we have reached an important milestone in our company's history," said Michael Rybicki, Owner & President of Enmark Systems. "Metal service centers have unique needs that traditional ERP systems don't address well, such as complex inventory and high price sensitivity. Enmark was founded in 1983 to specifically address these needs and deliver a powerful solution for our clients. Today, Enmark and ENITEO is the software of choice for metal service centers. I couldn't be prouder of what we have accomplished, and am very excited for Grant and the entire team for the opportunities that lie ahead."

Grant Stanis, incoming CEO of Enmark Systems commented, "This investment from Accel-KKR heralds the next chapter of growth for Enmark and our employees, and for continued innovation and value for our customers. Efficiency, accuracy and speed are vital to our customers due to the margin-sensitive nature of their businesses, and Enmark has built a name for listening to customers, delivering and exceeding customer expectations in terms of solutions and service. We intend to stay close to what makes us successful while tapping into AKKR's support to accelerate investments in customer success, product innovation and strategic acquisitions. I am grateful for the confidence placed in me by Michael and the board, and I can't wait to get started."

Grant is a SaaS software veteran with deep experience in growing software and IT-enabled businesses. Grant joins Enmark from another manufacturing specialty software provider, FPX, that during his tenure completed a major technology modernization project. Prior to his time in the software industry, Grant worked for several years at PwC where he focused on helping software companies expand their product offerings through M&A. 

"We are excited to partner with Enmark," said Phil Cunningham, Operating Executive and the lead for AKKR's Emerging Buyout Partners fund. "Enmark provides mission-critical software for clients, who in turn play a vital role in the broader economy. We congratulate Michael for having the vision to build something as special and powerful as Enmark. We look forward to bringing our share of software expertise and resources to support Grant and the entire Enmark team on this next phase of growth and transformation."

Cowen & Company served as financial advisor to Enmark.

About Enmark Systems, Inc.:
Founded in 1983, Enmark's philosophy has never changed: to serve the metal service center industry with the latest technology to enhance operations from the shop floor to the top floor. The company's flagship product, ENITEO, was launched in late 2004 and has since become the most widely adopted ERP, pricing and inventory software platform for the metal service center industry.?For more, visit enmark.com.

About Accel-KKR:
Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and tech-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 alongside management by leveraging the 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. For three consecutive years between 2019 and 2021, Inc. named Accel-KKR to "PE 50 ? The Best Private Equity Firms for Entrepreneurs", an annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. To learn more, visit accel-kkr.com.

Media Contacts:

For Enmark Systems: Benjamin Upell sales@enmark.com

For Accel-KKR: Todd Fogarty, Partner, Kekst CNC | todd.fogarty@kekstcnc.com 

 

SOURCE Enmark Systems, Inc.


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