Clearlake Capital Group LP is buying a unit of Alpharetta, Ga.-based Agilysys Inc. (Nasdaq: AGYS) for about $35 million.
Clearlake will rename the retail solutions group Kyrus Solutions when the deal closes. The Greenville, S.C.-based business provides technology and management services to the retail market, including point-of-sale, self-service and wireless mobility services.
The unit’s revenue increased $9.1 million, about 31 percent, in the third quarter of fiscal 2013 compared to the third quarter of fiscal 2012.
Private equity firm Clearlake Capital, headquartered in Santa Monica, Calif., manages about $1.4 billion in equity capital. The firm’s current investments include Jacuzzi, Mformation and NetMotion Wireless. In May, the firm agreed to buy struggling online retailer Bluefly Inc. (Nasdaq: BFLY). Clearlake closed its third fund with $785 million in capital commitments in January.
Atlas Technology Group advised Agilysys on the deal.