December 05, 2013
Croft & Bender Serves as Financial Advisor to Movero, Inc.
Croft & Bender, an Atlanta-based investment banking and private equity firm, is pleased to announce the successful sale of its client, Movero, Inc., to Clearlake Capital. Movero will become part of the newly formed Calero Software, LLC.
Headquartered in Atlanta, Georgia, Movero is a leading provider of Communications Lifecycle Management solutions, which include Managed Mobility Services, Fixed and Mobile Telecom Expense Management solutions, and Mobile Device Management solutions to corporate clients in the US and internationally. Movero serves over 130 clients across a variety of industries, including multiple blue-chip customers.
Croft & Bender served as the exclusive financial advisor to Movero in the sale process. “Croft & Bender was pivotal in helping us position the business to maximize interest from potential buyers and effectively managing the process to a successful outcome” said Movero Chief Executive Officer, Michael Lustig.
“We were honored to have the opportunity to work with the Movero team and the Company’s investors on this transaction. They have built a leading platform in the Managed Mobility Services space, which will be a strong asset for Calero Software going forward,” commented Steve Tye, Managing Director at Croft & Bender.