Private equity firm Clearlake Capital Group LP will form Tolt Solutions Inc. through the acquisition of Tolt Services Group and subsequent merger of Tolt with portfolio company Kyrus Solutions Inc.
The combined company will be called Tolt Solutions Inc. Tolt Solutions will employ about 900 retail information technology consultants. The company will offer point-of-sale, self-services and wireless mobility development services.
The PE firm bought Kyrus from Agilysys Inc. in July for $35 million.
Santa Monica, Calif.-based Clearlake manages about $1.4 billion in equity capital. In January, the firm closed its third fund, Clearlake Capital Partners III LP, with more than $785 million in equity commitments. Clearlake, in September, acquired Futuris Automotive, which designs and manufactures interior systems for equipment manufacturers. Before that, in August, the firm closed a deal for online retailer Bluefly Inc.