AFS Technologies, Inc., a global leader in software solutions for the Consumer Packaged Goods industry (CPG), including the Food and Beverage segment, today announced that Court Square Capital Partners, a leading private equity firm with over $6 billion under management, has acquired a majority interest in AFS. This investment, in partnership with current AFS management, provides growth capital as well as capital for future acquisitions.

'For AFS customers and employees, having Court Square as a financial partner will provide capital to accelerate our investment in current technology and solutions, as well as continue to grow through acquisitions. Strategic acquisitions help accelerate our offerings and provide global support for our customers,' said Kurien Jacob, CEO of AFS Technologies. 'This investment by Court Square will bring to a close AFS Technologies' successful partnership with Goldman Sachs' Private Capital Investing group since 2011. Over the course of Goldman Sachs' partnership with AFS Technologies, the company expanded its global footprint, completed six acquisitions and became a leading provider of Trade Promotion Spend Management, Retail Execution and Data Visualization solutions in this segment,' added Mr. Jacob. ABRY Partners also provided acquisition capital in 2012.

William Blair & Company and Madison Park Group served as co-advisors to AFS Technologies in connection with this transaction. Snell & Wilmer L.L.P. served as legal advisor to AFS Technologies for this transaction.

About AFS Technologies, Inc.

AFS Technologies, Inc. is the leading provider on-demand cloud-based and server-based software solutions designed to meet the unique requirements of the Consumer Packaged Goods industry, including specialized software for the Food and Beverage segment. With over 25 years of industry experience, AFS provides global solutions and supports 1,100 customers in more than 40 countries. AFS solutions are utilized by manufacturers, distributors, sales agencies and third party logistics providers. AFS has recently launched 'Datum,' which is an industry 'Product Master' that can serve as the database to support any system. Using GS1 codes as its base, this database can support images, nutritional specifications and complex hierarchy management that can update any third party system automatically. AFS offers deployment flexibility through traditional licensing or subscription-based programs, from on-premise to cloud-based on-demand solutions. For additional information, please visit www.afsi.com or call (602) 522-8282.

About Court Square Capital Partners

Court Square is one of the most experienced teams in the private equity industry. Since 1979, the team has made over 200 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Based in New York, Court Square invests in companies that have compelling growth potential. The firm manages over $6 billion in aggregate capital commitments, while focusing on the following four sectors: business services, general industrial, healthcare and technology/telecommunications. For more information on Court Square please visit www.courtsquare.com.

About William Blair

William Blair's investment banking group combines significant transaction experience, rich industry knowledge, and deep relationships to deliver successful advisory and financing solutions to our global base of corporate clients. We serve both publicly traded and privately held companies, executing mergers and acquisitions, growth financing, financial restructuring and general advisory projects. This comprehensive suite of services allows us to be a long-term partner to our clients as they grow and evolve. From 2010 to 2013, the investment banking group completed 250 merger-and-acquisition transactions worth more than $52 billion in value, involving parties in 27 countries and four continents, was an underwriter on more than 20% of all U.S. initial public offerings, and arranged more than $11.5 billion of debt financing.

About Madison Park Group

Madison Park Group is an investment banking firm focused on advising technology and business services companies on M&A transactions and fundraisings. For more information, please visit www.madisonparkgrp.com.