O’Melveny Represents TELEO Capital Management in Acquisition of Onboard Services and Supply Chain Software Business from E-Gatematrix LLCJuly 11, 2019
FOR IMMEDIATE RELEASE
CENTURY CITY—July 11, 2019—O’Melveny recently represented private equity firm TELEO Capital Management, LLC in acquiring an onboard services and supply chain software solutions business from e-gatematrix LLC.
The newly acquired business will operate under the name Paxia, Inc. The company offers enterprise SaaS applications that manage the inflight catering services supply chain for the world’s largest airline carriers and catering businesses.
Based in Los Angeles, TELEO is a lower middle market private equity firm targeting opportunities in the technology & software, healthcare IT, business services and industrial sectors. TELEO claims a successful track record of executing corporate carve-outs, recapitalizing broken balance sheets, acquiring founder-owned companies, as well as buy and build strategies for our portfolio companies.
“We could not have been more pleased by the professionalism and experience of the O’Melveny team advising us on this important transaction,” said TELEO founding partner Andres Martinez.
“We are grateful to the O’Melveny team for their responsiveness and attention to detail as they guided this transaction to a successful close,” added TELEO founding partner George Kase.
The O’Melveny team was led by partner David Smith and included counsel Zach Greenberg and associate Steven Xie.
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The following release was issued by the client:
TELEO CAPITAL COMPLETES ACQUISITION OF ONBOARD SERVICES AND SUPPLY CHAIN SOFTWARE BUSINESS FROM E-GATEMATRIX LLC
Los Angeles, CA – (June 27, 2019) TELEO Capital Management, LLC (“TELEO”) is pleased to announce that it has acquired the onboard services and supply chain software solutions business from e-gatematrix LLC. The newly acquired business will operate under the name Paxia, Inc. (“Paxia, or the “Business”). Paxia is a leading provider of enterprise SaaS applications that manage the inflight catering services supply chain for the world’s largest airline carriers and catering businesses, driving significant cost reductions through its proprietary software solutions. Paxia’s cloud-based catering management suite and galley planning solutions handle thousands of flights daily.
“We are very excited to partner with Paxia’s management team and help lead the business through the next stage of its growth,” said Matt Scholl, Paxia's interim CEO and TELEO operating partner. “We see significant opportunity to deepen our relationships with existing customers through product innovation and expand our reach through new customer acquisition,” he added.
“Paxia offers best-in-class software solutions for airlines and their catering partners to efficiently manage inflight catering,” said Andres Martinez, Co-Founder of TELEO Capital. “As inflight logistics workflows become increasingly complex, Paxia is well positioned to expand market share through both organic and inorganic growth initiatives.”
Paxia is a leading provider of enterprise SaaS applications that manage the inflight catering services supply chain for thousands of flights daily. It offers two software solutions: Inflight Exchange (“IFX”) and Galley Planning (“GP”). IFX is a cloud-based catering management suite that controls the entire onboard services process from the warehouse, to the plane, and to the final invoice. GP provides a cloud-based galley planning solution that enables users to optimize galley space, loading plans, equipment inventory, weight balancing, and the supply chain. Through supply chain optimization, fuel savings and process automation, IFX and GP drive significant ROI and allow airlines and their catering partners to focus on brand differentiation and customer satisfaction.
About TELEO Capital
TELEO Capital is a lower middle market private equity firm that looks to invest in opportunities where its strategic thought, operational resources, and capital base empower management to perform and execute their business plan. With over 60 years of collective private equity experience, we bring a successful track record of executing corporate carve-outs, recapitalizing broken balance sheets, acquiring founder-owned companies, as well as buy and build strategies zfor our portfolio companies. TELEO targets opportunities in the technology & software, healthcare IT, business services and industrial sectors. The firm is headquartered in Los Angeles, CA.