MEI Completes Management Buy-Out

MEI Computer Technology Group Inc., a developer of Trade Promotion Management (TPM) software for the Consumer Packaged Goods (CPG) industry, announced the completion of a management buyout from its Private Equity Investors, with additional backing by Fondaction -- a venture capital firm that invests in advanced technology companies.

 

MEI is continuing its ongoing and rapid expansion within the CPG industry, and continues to exceed its financial goals. The company has already achieved growth in 2010, gaining an increase in revenue from its TPM software by 8 percent over the previous yearâs third quarter, has cash reserves of 50 percent and has increased its customer base by 24 percent. In fact, the company has signed many new clients over the summer months, including well known CPG manufacturers Ricola, Farmer Johnâs and Coles.