CBORD Announces Recapitalization through Its New Investment Partners

For Immediate Release

Ithaca, New York—The CBORD Group, Inc., one of the world’s leading suppliers and marketers of innovative vertical market software and hardware systems, today announced that it has completed a recapitalization with Sterling Investment Partners, L.P., and Oak Investment Partners. “This infusion of capital will allow us to develop our products even faster and to serve even better the needs of our clients,” says Tim Tighe, President and CEO of The CBORD Group. The investment, which Tighe calls “a major vote of confidence in this company, its business model, and its employees,” will also enable CBORD to enhance further its position in the marketplace.

The company’s founder, John Alexander, will become Chairman of the Board. Bruce Lane, who has assumed the position of Executive Vice President and COO, says, “This new capital structure will allow us to compete more aggressively in our various markets and take advantage of selected acquisition opportunities as they arise.”

About The CBORD Group, Inc.

The CBORD Group serves a wide variety of clients in colleges and universities, corporations, healthcare facilities, chain restaurants, supermarkets, and gaming locations. The company’s products are used in foodservice, catering, nutrition services, campus ID card privilege control, housing services, cashless dining, and other institution-wide activities. The CBORD Group serves more than 5,000 organizations in the U.S., Canada, Europe, and Australia.

The CBORD Group was founded in 1975. Today it employs more than 280 professionals. Visit CBORD at www.cbord.com for more information. For more information about CBORD’s investment partners, visit: www.sterlinglp.com and www.oakvc.com.

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