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Bentley sells SAP supply-chain firm to E&Y
In just 36 months
Bentley Holdings, a Fort Washington investment firm headed by Cosmo DeNicola, part-owner of the Philadelphia Soul and manufacturing-software developer Amtech, Fort Washington, says it has sold LogiStar Solutions, a profitable $26 million (yearly-sales) SAP supply-chain execution software sales company that employs about 65 at its Fort Washignton headquarters, to Ernst & Young, for an undisclosed price.
In a statement, David Gulian, portfolio manager for Bentley and CEO for LogiStar, said the group had buit and sold the company in just 36 months: "This deal validates our accelerator methodology" and raises money to invest more in healthcare and mobile-technology firms. More at www.bentley-holdings.com