CSI, a Paducah, KY-based provider of end-to-end financial software and technology solutions, received a strategic investment from TA Associates.
Centerbridge Partners and Bridgeport Partners will retain their positions as majority and minority investors, respectively. Hythem T. El-Nazer, Managing Director for TA, and Mike Libert, Managing Director at TA, will join CSI’s board of directors alongside current board members, including Jared Hendricks, Senior Managing Director at Centerbridge, and Frank Martire, Bridgeport’s Founder.
The amount of the deal was not disclosed.
The company intends to use the funds to expand operations and its business reach.
Led by David Culbertson, CEO and President, Computer Services helps community and regional banks, as well as organizations worldwide, solve their customers’ needs through open and agile technologies. In addition to its nearly 60-year reputation for personalized service, the company is working for banking by deploying advanced solutions that help its customers rival their competition.
TA’s investment comes during a momentous fiscal year for CSI, the first 10 months of which saw the company increase sales 36% year over year. CSI also announced multiple feature and function updates to its software platform, a number of strategic hires, its partnership with digital banking and treasury management fintech Dragonfly Financial Technologies, and its recent acquisition of loan origination software provider Hawthorn River.
FinSMEs
10/01/2024