NEW YORK, Dec. 21, 2016 /PRNewswire/ — Halyard Capital, a New York-based private equity fund, today announced the acquisition of an ownership interest in Strategy Execution Partners, LLC and OAE Software, LLC (d/b/a StratEx) from its founders, who will retain significant equity ownership in the business and continue in their senior leadership roles. As part of the transaction, Halyard is also providing expansion capital to the business to accelerate a number of StratEx’s growth initiatives. Financial terms of the transaction were not disclosed.
Based in Chicago, StratEx delivers a robust, Human Capital Management (“HCM”) SaaS platform that addresses all aspects of the employee lifecycle, from applicant tracking and time and attendance to payroll, benefits and performance management. StratEx allows its customers to “Automate, Mitigate, and Manage” their Human Resources (“HR”) needs with its intuitive, paperless solution, eStratEx, and through the support of the company’s HR compliance experts. The company has become a trusted partner to hundreds of satisfied customers, including many in the restaurant, hospitality and retail industries.
“I am thrilled to be teaming up with Halyard Capital to build upon the strong foundation we have put in place at StratEx,” said the company’s CEO and co-founder, Adam Ochstein. “We have built a superior HR software platform for businesses with multiple locations, lean resources and complex scheduling needs. These types of companies are desperate for an intuitive, comprehensive solution and they are responding strongly to both our differentiated functionality and our team’s expertise. Now is the time to take our growth to the next level and we have found a perfect partner to help us do that.”
Jonathan Barnes, Partner of Halyard Capital, commented, “This investment is reflective of Halyard’s continued focus on opportunities in the HCM space. In StratEx, we found a business with a proprietary platform that provides a broad suite of SaaS-based applications that help automate and streamline the HCM workflow in a regulatory-compliant fashion. The Company is quickly gaining market share and we hope to accelerate its growth with additional investment in products, capabilities and people.”
StratEx was advised in the transaction by Harbor View Advisors and Weiss Brown. Halyard was represented by Akin Gump.
To learn more about HRchitect and how we can help your organization and your Human Capital Management (HCM) technology needs, please request a consultation. As the leader in HCM Systems strategic consulting, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation and selection, change management, implementation, project management and ongoing support of HCM systems of all types including Talent Acquisition, Talent Management, Learning Management, Workforce Management, Benefits, Core HR/Payroll, and more. Over the past two decades, working on thousands of successful engagements for clients of all sizes and industries across the globe, our knowledge of best practices continues to expand and our experience is vast and unsurpassed. We have expertise around all major HCM systems including Benefitfocus, WorkForce Software, Ultimate Software, Oracle, Taleo, SAP, SuccessFactors, Saba, IBM Kenexa, and more. HRchitect is a name you can trust for all of your organization’s HCM technology-related consulting needs.
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