SOUTHFIELD, MI, OCTOBER 2018
Surgere, the global industry leader in software bringing visibility and control for supply chains in automotive and other industries, has secured a growth capital investment from Cypress Growth Capital.
Cypress’ funding for the Green, Ohio-based company will help fuel the growth of Surgere’s “AutoSphere” - the company’s proprietary supply chain ecosystem of Original Equipment Manufacturers (OEMs) and their vast individual networks of suppliers. The AutoSphere enables OEMs and their suppliers to operate in a single supply chain data ecosystem, sharing data and analytics to more efficiently move, track and manage container and part inventory between companies, saving potentially billions of dollars in annual loss.
The Autosphere is an unprecedented unification of OEMs and major suppliers, including Fiat Chrysler Automobiles, General Motors, Honda North America, Nissan North America, Toyota North America, Adient, Denso North America, MAHLE North America and Yanfeng Automotive Interiors.
"The Surgere leadership team is comprised of automotive supply chain veterans with experience in every aspect of the industry’s complex ecosystem,” said Bart Goodwin, Managing Director of Cypress Growth Capital. “We were deeply impressed with the quality of the solution, but even more so by the quality and commitment of the company’s management and employees. We are proud to be their partner.”
According to Ken Marblestone, Managing Director at Cascade Partners, the financing preserved the family’s equity and will fuel the business’ long-term growth. “With Cypress, we were able to create the ideal solution for our client with minimal dilution. Their unique royalty-based approach was a perfect fit for a fast-growing business by providing very patient capital to be invested in the business infrastructure to support the growth.”
William Wappler, President and CEO of Surgere, said “Looking back to the beginning of the funding lifecycle, right up to the conclusion, I can’t imagine the journey without Ken and the team at Cascade Partners. Moving through the phases of finding and closing any growth capitalization requires much more than investment banking expertise. Cascade Partners filled multiple roles for us throughout the process, including being our trusted counselors, mentors, and friends. All of those things were important for Surgere to find and define the right funding opportunities. We definitely found and worked with exactly the right investment firm for us.”
For more information about Surgere, Cascade Partners or Cypress Growth Capital, please visit our websites:
Media contact: Heidi Alward | firstname.lastname@example.org | 248.430.4851