CSI Receives Strategic Investment from TA: Boosting Technology Solutions for Community Banks

Computer Services, Inc. (CSI), a leading provider of financial software and technology solutions, has announced a strategic investment from TA Associates. TA, a global private equity firm, will join existing investors Centerbridge Partners and Bridgeport Partners. This investment comes at a pivotal time for CSI, as the company has experienced significant sales growth and introduced several new updates and partnerships to enhance its software platform. The collaboration with TA will further propel CSI's commitment to empowering community banks with innovative technology solutions.

CSI's CEO and President, David Culbertson, emphasized the company's dedication to equipping community bankers with cutting-edge technology that drives efficiency, growth, and customer loyalty. The partnership with TA aligns with CSI's goal of expanding its comprehensive suite of technologies and services to meet the evolving needs of community banks.

Throughout the year, CSI has achieved remarkable milestones, with a 36% increase in sales compared to the previous fiscal year. The company has introduced various feature and function updates to its software platform, recruited strategic hires, partnered with digital banking and treasury management fintech Dragonfly Financial Technologies, and acquired loan origination software provider Hawthorn River. These accomplishments exemplify CSI's commitment to helping community banks remain competitive by deploying impactful technology solutions that enhance both the back-office operations and customer experience.

TA's decision to invest in CSI was informed by an extensive review of the core banking market, where CSI consistently emerged as a leading innovator. Hythem T. El-Nazer, Managing Director for TA, highlighted the importance of user-friendly and highly secure solutions for community banks to effectively serve their customers and keep up with the dynamic banking industry. Recognizing CSI's multi-tenant SaaS cloud solution and customer-centric approach, TA is enthusiastic about working alongside Centerbridge and Bridgeport to accelerate CSI's growth and establish it as a frontrunner in the community banking technology market.

As part of the strategic investment, El-Nazer and Mike Libert, Managing Director at TA, will join CSI's board of directors alongside current board members Jared Hendricks, Senior Managing Director at Centerbridge, and Frank Martire, Bridgeport's Founder. This collaboration will leverage TA's expertise in software to support CSI's future success.

Centerbridge and Bridgeport share the belief that CSI is poised for continued growth and remains the ideal choice to empower and support community banks. CSI's unwavering commitment to its customers, exceptional customer service, and continuous delivery of innovative products have not only attracted TA but also solidified its position as a leading financial software and technology provider.

The transaction between CSI and TA was finalized in December 2023, with the financial terms undisclosed. For more information about CSI, visit their website at csiweb.com.

About CSI:

Computer Services, Inc. (CSI) is a forward-thinking software provider that empowers community and regional banks worldwide through open and agile technologies. With nearly 60 years of experience, CSI is shaping the future of banking by swiftly deploying advanced solutions to help its customers surpass their competition.

About TA:

TA is a leading global private equity firm that focuses on scaling growth in profitable companies. With a history dating back to 1968, TA has invested in more than 560 companies across various industries. Leveraging deep industry expertise and strategic resources, TA collaborates with management teams to deliver lasting value and has raised a total of $65 billion in capital to date.

About Centerbridge:

Centerbridge Partners, L.P. is a private investment management firm that employs a flexible approach across investment disciplines to identify attractive opportunities for its investors. With offices in New York and London, Centerbridge aims to partner with world-class management teams across industry sectors and geographies.

About Bridgeport:

Bridgeport Partners is a private investment firm that takes a long-term, value-oriented approach to investing. Led by seasoned operators and investors, Bridgeport invests proprietary capital and forms strategic partnerships to support management teams and companies through industry and economic cycles.