GlobalWare Solutions Announces Underwriting of Recapitalization
Recapitalization strengthens overall Financial Position
Haverhill, MA – GlobalWare Solutions, Inc., an industry leader providing supply-chain outsourcing solutions, announced today that it has secured $32 million in common equity underwriting to strengthen its financial position. Mezzanine Management, LLC, a leading London-based investment management firm, is financing the underwriting.
Robert Roche, chief operating officer at GlobalWare Solutions, commented, “Mezzanine continues to support our growth and business strategies. Our lean supply chain capabilities provide customers responsive, cost effective outsourced solutions.”
Michael Liess, GlobalWare Solutions’ president, said, “The recapitalization significantly strengthens GlobalWare’s balance sheet and provides a more appropriate capital structure to fuel our growth.”
Mezzanine is the largest and majority shareholder of the company. Bradley A. Jay, managing director of Mezzanine Management LLC, said, “The underwriting of this recapitalization reflects our continuing support of the GlobalWare business model to
design, implement, and manage innovative supply-chain outsourcing solutions for their customers.”
About GlobalWare Solutions:
Headquartered in Haverhill, Massachusetts, GlobalWare Solutions operates facilities in North America (Haverhill, MA and Redwood City, CA), Europe (The Netherlands) and Asia (China, Malaysia and Singapore). Among the company's roster of clients are such leading corporations as Avid, Sun Microsystems, Veritas, Disney and Cox Communications.
GlobalWare Solutions serves the hardware and software OEMs and the broadband, medical and retail industries. The company manages inventories and logistics, provides on-demand CD's and printing, supports digital rights management and e-Licensing. Companies have relied on GlobalWare's expertise to provide high-quality products and services in short turn-times. The company's value-chain services include e-business services, supply chain management, software manufacturing, fulfillment and reverse logistics.
The privately-held ISO 9000 certified company, founded in 1978, employs 450 people and has 500,000 square feet of production space worldwide. For additional information, please visit http://www.globalwaresolutions.com
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