New York, NY — CitiXsys Holdings, Inc. (“CitiXsys” or the “Company”) has raised $60 million in capital from Goldman Sachs Specialty Lending Group within the Merchant Banking Division (“Goldman Sachs”) to provide capital to support growth initiatives. FocalPoint Securities, LLC (“FocalPoint Partners” or “FocalPoint”) served as exclusive financial advisor to CitiXsys.
CitiXsys is a global application integration software developer, providing an omnichannel software solution to middle-market retail and hospitality customers. Recognized for its innovation in the retail sector, CitiXsys’ flagship offering, iVend Retail enables medium to large enterprise businesses to deliver seamless customer experiences with end-to-end retail management systems. The company counts as among its clients Samsonite, Vodafone, MTN Telecom, Virgin Mobile, The Body Shop, Asics, Kazyon, The Vitamin Shoppe, Goodwill Industries and Havaianas.
CitiXsys was founded in 2002 by industry veteran Kamal Karmakar. The Company has evolved from its origins as an ERP/ Retail consulting provider to an international powerhouse of Retail Management Systems with a well-known corporate brand, differentiated product offering and a strong management team, all the while building a strong network of channel partners to achieve impressive growth.
FocalPoint ran an expedited process that targeted the most relevant lenders and generated significant interest. After analyzing the impact of several different transaction alternatives, the Company elected to move forward with Goldman Sachs, who provided a creative financing solution that met all of CitiXsys’ near-term and long-term goals, minimized the dilution of the Company’s existing shareholders, as well as provided additional capital to grow and accelerate international expansion.
“I am delighted to work with Goldman Sachs in this next chapter of growth and expansion of the business, including as we look for strategic acquisition targets that complement our existing offer,” said Kamal Karmakar, CEO of CitiXsys. “FocalPoint ran a phenomenal process that resulted in several very compelling capital alternatives, providing us with the resources we need to continue executing our growth strategy.”
Thomas Mills, Managing Director of FocalPoint, added, “We are thrilled to have assisted CitiXsys with finding a capital partner in Goldman Sachs. Working with middle-market software companies is a strong suit of our firm. This transaction also highlights our capital markets practice’s ability to provide an attractive range of financing alternatives to rapidly growing clients and their financial sponsors.”
About CitiXsys Holdings
CitiXsys is a global developer of application integration software for retail and hospitality management software and systems, offering a POS application which configures pricing, discounts, promotions and other activities. iVend Retail by CitiXsys, the Company’s core product, provides rich functionality, multi-national capabilities and unparalleled flexibility across various ERP systems, enabling retailers to deliver a seamless shopping experience to their customers. To learn more, visit www.citixsys.com.
About Goldman Sachs
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate. For more information on Goldman Sachs Merchant Banking Division, visit www.goldmansachs.com.
About FocalPoint Partners
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings and special situation transactions. With offices in Los Angeles, Chicago, New York and Shanghai, the firm provides global advisory services to a variety of middle-market clients. With our recent growth, FocalPoint offers its clients one of the largest teams in the financial community wholly dedicated to middle-market financing. For more information, please visit www.focalpointllc.com and follow us on LinkedIn and Twitter.
Please contact Thomas Mills, Managing Director, at 312-508-5777 or Joshua Osher, Director, at 646-343-9847 for more information regarding this transaction.