Moelis Capital Partners Exits SwipeClock

NEW YORK, NY
July 17, 2017

NexPhase Capital, LP (“NexPhase”), co-advisor to the Moelis Capital Partners (“MCP”) Opportunity Funds, today announced the successful sale of SwipeClock, LLC (“SwipeClock” or the “Company”) to Inverness Graham Investments.

SwipeClock is a leading provider of cloud-based integrated workforce management software solutions that include automated time, attendance, and advanced scheduling. The Company’s products, which include TimeWorksPlus, TimeSimplicity, and TimeWorksTouch Intelligent Clock, are sold through over 850 partners that empower more than 26,000 businesses across the U.S, to lower labor costs, comply with regulatory mandates, and maximize profits. SwipeClock is based in South Jordan, Utah, and was founded in 2000.

"In partnership with NexPhase and MCP, SwipeClock has grown its suite of solutions that empower our business customers to optimize the management of their workforce, comply with critical regulations, and create stronger relationships with their employees,” said Coleman Barney, CEO of SwipeClock. “I’m grateful for the work we’ve accomplished during our partnership and look forward to further expanding our unique set of solutions for our customers under new ownership,” added Barney.

“SwipeClock has created a leading, integrated, high-growth workforce management company through numerous successful investments in products, people, processes, infrastructure, and acquisitions,” said Joel Killion, Partner at NexPhase. “It has been a pleasure partnering with Coleman and his team to realize our collective vision for the business. We wish them continued success under the Company’s new ownership,” Killion added.

SwipeClock marks the seventh exit by MCP since January of 2016, all of which were co-advised by NexPhase.

For its proprietary funds, NexPhase has completed six acquisitions since January of 2016 and continues to execute a strategy of making control investments in lower middle market, growth-oriented companies across the healthcare, industrial services, software and consumer sectors. Within software, NexPhase targets companies in the financial services, education, sales enablement and marketing technology, and employment ecosystem sectors, and recently completed the acquisition of Inside Real Estate, a B2B residential real estate enterprise software platform.

Raymond James & Associates acted as financial advisor and Parr Brown Gee & Loveless provided legal counsel to MCP and SwipeClock on the transaction.

About NexPhase Capital
NexPhase Capital, formed by the former principals of Moelis Capital Partners (MCP), the private equity division of Moelis Asset Management, is a New York-based private equity firm targeting equity investments between $25 million and $75 million in leading middle market, growth-oriented companies. In 2016, the former principals of MCP formed NexPhase to execute, on an independent basis, the same sector-focused strategy of completing control investments in lower middle market companies. NexPhase continues to manage the MCP funds and portfolio companies under a sub-advisory agreement. NexPhase specializes in the healthcare, industrial services, software and consumer sectors. Led by Co-Managing Partners Kurt Larsen and Ted Yun, the firm will continue to manage approximately $872 million of MCP’s legacy private equity capital. For more information, please visit www.NexPhase.com.

About Moelis Capital Partners
Moelis Capital Partners LLC, a subsidiary of Moelis Asset Management LP, is a middle market private equity firm founded in 2007. MCP co-manages approximately $872 million of committed private equity capital with NexPhase Capital in traditional private equity investments. For more information, please visit www.moeliscapital.com.