WAYNE, Pa., Jan. 14, 2021 (GLOBE NEWSWIRE) -- Unilog, the leading provider of powerful, affordable eCommerce solutions to midmarket businesses, announced today that Investcorp, a leading global provider and manager of alternative investment products, acquired a majority stake in Unilog along with the investment of growth capital. Other terms of the transaction were not disclosed.
Unilog intends to leverage the capital backing to accelerate product innovation, enhance customer service, and expand market presence through both organic and inorganic acquisition opportunities.
“Unilog has a proven history of delivering success for our customers,” said Suchit Bachalli, CEO of Unilog. “On average, our customers reported 40% growth with our digital commerce platform over the past year. This level of success, along with our current market adoption, uniquely positions Unilog as the undisputed leader in eCommerce solutions for midmarket B2B companies.”
According to research from Digital Commerce 360, last year about 16.9% – or $957 billion – of all distributor sales of nearly $6 trillion was done via digital commerce. This growth is expected to persist as B2B buyers continue to adopt eCommerce as their preferred channel of purchase.
“Unilog stands out amongst solution providers in the B2B eCommerce sector,” said Harsh Shethia of Investcorp. “Under Suchit’s leadership they have a history of delivering a quality product that’s on par with some of the largest enterprise solution providers. We’re looking forward to helping Unilog deliver their platform to the broader midmarket sector.”
Current Unilog customers include Distribution International, Cameron Ashley Building Products, Arbill Safety, Turtle & Hughes, Orgill, and hundreds of other wholesale distributors, manufacturers, and specialty hardgoods retailers. The company has witnessed explosive growth in recurring revenue with a compound annual growth rate (CAGR) exceeding 40% over the past three years. Unilog believes the infusion of capital from Investcorp will help propel them over the $100 million annual recurring revenue mark.
“Investcorp shares our vision for the industry,” said Bachalli. “We are thrilled to have their global brand backing us as a capital partner. We strongly believe this partnership will help Unilog achieve our goals faster.”
Lincoln International was the exclusive advisor to Investcorp on this transaction.
ABOUT UNILOG
Unilog is a global technology company that delivers powerful, affordable eCommerce solutions for the B2B marketplace. Our cloud-based eCommerce platform and product data enrichment services help distributors, manufacturers, and wholesalers increase online sales, reduce cost to serve, and enhance their digital channel. For more information, visit www.unilogcorp.com.
ABOUT INVESTCORP
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes and infrastructure. Since our inception in 1982, we have focused on generating attractive returns for our clients while seeking to create sustainable long-term value for our shareholders and communities as a prudent and responsible investor with a commitment to sound Environmental, Social and Governance (ESG) practices.
We invest a meaningful portion of our own capital in products we offer to our clients, ensuring that our interests are aligned with our stakeholders. We take pride in partnering with our clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach.
Investcorp has today a presence in 12 countries across the US, Europe, GCC and Asia, including India, China and Singapore. As of June 30, 2020, Investcorp Group had US $32.2 billion in total AUM, including assets managed by third party managers, with a diverse group of approximately 450 employees from 44 nationalities globally across its offices. For further information, visit www.investcorp.com and follow us @Investcorp on LinkedIn, Twitter and Instagram.
PRESS CONTACT
Scott Frymire
SVP Marketing, Unilog
scott.frymire@unilogcorp.com
267-918-7752