Additional Capital and Leadership to Enable Apposite to Accelerate Growth in Network Test Tools Market
SEATTLE, WA--(Marketwired - Dec 12, 2016) - Ranch Creek Partners, LLC, in partnership with Los Angeles-based St. Cloud Capital, today announced it has made a majority equity investment in Los Angeles-based Apposite Technologies (Apposite), the leader in enterprise-class network simulation products, to enable Apposite to accelerate growth and expand its leadership in the network test tools market. The company also announced that it has appointed Steve Fazio as its new CEO to lead Apposite's growth by focusing on the development of complementary products and features, as well as an expansion of the company's sales team and channel partnerships.
"Apposite has done a tremendous job in establishing itself as the solution for network simulation technology to the largest companies in the world," said J.D. Kritser, founder and managing director of Ranch Creek Partners, and Chairman of the Board of Apposite. "With Steve's leadership and the continued involvement of the entire Apposite team, we are poised to accelerate growth both organically and through acquisitions to extend our leadership position in the industry."
Steve Fazio, Apposite's new CEO, has more than 20 years of successfully launching and operating companies in consulting, network technology, IT solutions and managed services. He is a proven operator and executive with extensive experience building teams and growing technology businesses.
Apposite's WAN emulation appliances simulate network conditions to test the performance of software applications in the lab under real-world conditions. Offering a unique combination of ease-of-use, test lab-level precision, and unmatched prices, Apposite's products are widely deployed by leading enterprises, application developers, telecoms carriers, and government and military organizations across the world.
"With the proliferation of cloud computing and software defined networking, the need for application testing on a simulated network has never been higher," said Fazio. "It's rare to come into a new opportunity with a world-class product, experienced management and a solid customer base, but that's what's here at Apposite. I'm excited by this opportunity and look forward to building on the success of the Apposite team."
About Ranch Creek Partners
Based in Seattle, Wash., Ranch Creek Partners is a West Coast private equity investment firm targeting control positions in middle market companies. Ranch Creek takes a long-term approach to building value, leveraging its deep industry knowledge, creativity and a collaborative investment approach to drive value in its portfolio companies. The firm seeks superior financial results by partnering with founders, world class managers and industry leaders to grow portfolio companies over time, whether organically, through acquisitions or a combination of both. More information is available via the web at www.ranchcreekllc.com.
About St. Cloud Capital
St. Cloud Capital is a Los Angeles, California-based private investment firm that provides growth capital to the lower middle market (companies with annual revenues generally between $10 million and $150 million) throughout the United States. St. Cloud typically invests $5 million - $20 million in companies across a wide range of industries in every layer of the capital structure, including senior secured debt, subordinated debt, and preferred and common equity. St. Cloud's investment discipline includes non-control and control investments, and involves partnering with strong management teams or experienced industry entrepreneurs. For more information about St. Cloud Capital, please visit www.stcloudcapital.com.
About Apposite Technologies
Apposite Technologies develops high-precision WAN emulation products used by IT professionals to benchmark the performance of applications across wide area networks. Distinguished by industry-best ease-of-use and unmatched cost-performance, Apposite's award-winning Netropy and Linktropy appliances inform critical decisions impacting bandwidth investment, application deployment, and end-user satisfaction. More information is available at www.apposite-tech.com.