Harris Williams & Co. Advises T2 Systems in a Strategic Investment from Pamlico Capital

SaaS Solutions Continue to Appeal to Investors
October 3, 2011

Harris Williams & Co., premier middle market investment bank, announces that T2 Systems has received a strategic investment from Pamlico Capital. T2 Systems is the only provider of a unified SaaS (Software-as-a-Service) solution for universities, municipalities, event facilities, hospitals and private parking providers. Harris Williams & Co. acted as the exclusive advisor to T2 Systems. The transaction was led by Jeff Bistrong, Garin Arevian and Rahul Swani from the firm’s Technology, Telecom & Digital Media (TTDM) Group.

 “We continue to see tremendous appetite for industry-leading SaaS solutions from both strategic and financial buyers,” said Jeff Bistrong, head of Harris Williams & Co.'s TTDM Group.  “T2 Systems’ unique SaaS business model and information-centric approach is changing the way operators manage parking facilities and its leading market position is reflective of the opportunities created by replacing traditional solutions with more sophisticated cloud-based technologies.”

Since 1994, T2 Systems has delivered proven parking solutions that meet the ever changing needs of the parking industry. With its broad range of technology-based solutions, T2 Systems is trusted by more than 350 organizations in the US and Canada including universities, cities, towns, hospitals, airports and private operators. T2 Systems is headquartered in Indianapolis, IN and has virtual offices throughout the United States and Canada.

“Harris Williams & Co. provided candid advice and guidance to help us find the right partner, and we are excited to be teaming up with Pamlico Capital to continue growing our business organically and through acquisitions," said T2 Systems CEO and founder Mike Simmons, who will retain significant ownership of T2 and continue to manage the growth of the company in partnership with Pamlico and the existing senior management team.

Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies.  Pamlico Capital seeks growth equity and buyout investments of up to $100 million alongside proven management teams in its target industries, which include business and technology services, communications and healthcare.  The firm, based in Charlotte, NC, currently manages over $2 billion in committed capital.