Daily News: March 5, 2018

Deloitte Advises Pillar in NewSpring Recapitalization

Deloitte Corporate Finance acted as exclusive financial advisor to Ohio-based Pillar Technology Group in its recapitalization with private equity firm NewSpring.

“We conducted a process that included developing marketing materials, approaching potential lenders and investors, facilitating the due diligence process, and assisting Pillar with negotiations throughout the entire transaction,” said John Deering, managing director at Deloitte. “The effort generated strong interest from top-tier, growth-oriented funds. Pillar’s shareholders achieved their collective objectives and found a strategic partner in NewSpring to accelerate growth initiatives.”

“As we continue to execute our growth and innovation strategy, Deloitte Corporate Finance has played an integral role offering thoughtful guidance as we evaluated capital structure and financing options,” said Bob Myers, CEO of Pillar.

Founded in 1996, Pillar is a provider of custom software solutions to Fortune 500 companies across the U.S.