Black Mountain Systems Acquired By Stone Point Capital

San Diego - 31 March 2015

Black Mountain Systems, a software company that develops innovative data and process management solutions for asset managers and financial institutions, announced today that it has completed a majority recapitalization. The transaction was led by Black Mountain’s management and funds managed by Stone Point Capital, which is a leading private equity firm focused on investing in the global financial services industry.

By combining Black Mountain's highly customizable Everest platform with Stone Point's relationships and expertise in financial services, Black Mountain is well positioned to advance its mission of bringing growth and innovation to investment professionals. Additionally, this transaction will enable Black Mountain to hasten its pace of expansion and allow its management team to deploy additional resources for a broader roll-out of its product- and service-based solution offerings.

"We see tremendous strategic value in Everest's highly configurable design, broad functionality and capacity to empower decision makers with complete and accurate information," said Charles A. Davis, Chief Executive Officer of Stone Point. "We also recognize the technical and client-based expertise that the Black Mountain team brings to its clients, and we look forward to working with the management team to help Black Mountain reach its full potential."

"We are very excited about this transaction. This is the right move for Black Mountain's long-term strategy and will enable us to better serve our customers and employees," said Kevin MacDonald, co-Chief Executive Officer of Black Mountain Systems. "I look forward to working with Stone Point as Black Mountain enters its next phase of innovation, growth and leadership."

"We were very careful about making this decision, and I firmly believe that Stone Point is the best partner we could have chosen to position Black Mountain for its next chapter. I am extremely proud of the great team we have assembled and the culture we have cultivated at Black Mountain, and I am truly excited about the opportunity to take our success to a new level," said Andy Horwitz, Black Mountain's co-Chief Executive Officer.

SunTrust Robinson Humphrey acted as financial advisor to Black Mountain Systems.

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