McHugh splits from Pinnacle

McHugh's Cashman: More r & d, more of a product focus

By Staff -- Modern Materials Handling, 1/1/1999

Private equity firm Advent International, along with GE Capital, has purchased an estimated $50 million minority equity position in McHugh Software International. As a result, McHugh, formerly a division of Pinnacle Automation, becomes an independent company with its own board of directors.

"Advent International is a partner with experience in technology and software," says Jeff Cashman, senior vice president of business and strategy at McHugh. "Customers will see aggressive developments in research and development, more product focus, and a richness in functionality. This is great news for our customers."

McHugh, a leading provider of logistics execution systems (LES), will gain the additional flexibility necessary to meet demands of a rapidly evolving LES marketplace.

"The LES market is one of the fastest growing, most attractive areas in application software today," says Dennis Costello, Advent International chief investment officer and a new McHugh board member. "Advent has been proactively looking for an investment in this area for the past year."

Funding from the deal will be used to accelerate research and development, further expand sales and marketing efforts, and fuel McHugh's continued global expansion.

McHugh has over 20 years of experience and has performed more than 475 installations for customers such as Liz Claiborne, Nike, Timex, and more.

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