Deloitte Corporate Finance LLC acted as exclusive financial advisor to Ohio-based Pillar Technology Group LLC (Pillar), a leading provider of custom software solutions, in its recapitalization with NewSpring, a Pennsylvania-based private equity firm. The recapitalization closed Jan. 9, 2018.

"We conducted a process that included developing marketing materials, approaching potential lenders and investors, facilitating the due diligence process, and assisting Pillar with negotiations throughout the entire transaction," said John Deering, managing director, Deloitte Corporate Finance LLC. "The effort generated strong interest from top-tier, growth-oriented funds. Pillar's shareholders achieved their collective objectives and found a strategic partner in NewSpring to accelerate growth initiatives."

"As we continue to execute our growth and innovation strategy, Deloitte Corporate Finance has played an integral role offering thoughtful guidance as we evaluated capital structure and financing options," said Bob Myers, CEO of Pillar Technology Group LLC. "They provided invaluable insights into our strategic alternatives and the capital market appetite in support of Pillar's future growth."

"Pillar has shown itself to be a leader in innovation, continuously delivering industry-disrupting solutions at remarkable speed. This transaction is testament to the management team's clear vision of bolstering Pillar's position as the market leader in smart embedded solutions and highly complex software and hardware systems," said Ron Rivera, managing director and U.S. technology, media and telecom group lead for Deloitte Corporate Finance LLC.