Grindstone Partners announces the sale of TelStar Hosted Services

ALEXANDRIA, VA, October 20, 2012 — Grindstone Partners LLC announces the sale of TelStar Hosted Services, of Leesburg Virginia, a CaaS contact center technology multi-vendor provider offering blended services, predictive dialer capabilities and automated voice messaging. TelStar offers Communication-as-a-Service via the cloud that is affordable, scalable, flexible, stable and reliable.  The buyer is Noble Systems Corporation of Atlanta Georgia, a global leader in unified contract center technology solutions and since inception, a major vendor to TelStar.  Terms of the transaction were not disclosed.

Grindstone partnered with Williams & Gallagher, a private investment firm based in Chevy Chase Maryland, and management to acquire the former division of TouchStar Software Corporation in 2010.  Over the 30 month investment period, the team was able to stabilize the business, create a stand-alone platform, professionalize the operation, focus the marketing and convert its customers to a stable recurring client base.

Grindstone Partners is a Virginia based private equity firm that partners with managers to create extraordinary shareholder value in small and midsized companies.  The firm brings its extensive operational, growth, M&A and turnaround experience and its far-reaching network of resources to its portfolio investments.  Grindstone invests in companies with high growth potential and revenue between $10 million and $50 million as well as add-on acquisitions for its existing portfolio companies. Visit www.grindstonepartners.com or contact the firm at (703) 627-9577 or michael@grindstonepartners.com.