KKR to Fund New E-Business Services Firm, Dynamis Solutions, Inc.
14 April 2000
KKR to Fund New E-Business Services Firm, Dynamis Solutions, Inc.
SOUTHFIELD, Mich., April 14 Dynamis Solutions, Inc., a new
business-to-business (B2B) Internet services firm that helps companies
conceptualize, evaluate, design and implement B2B solutions based on the
latest Internet technologies, has received $3 million of first round funding
from leading private equity investment firm Kohlberg Kravis Roberts &
Co.(KKR). The announcement was made today by Dynamis CEO Timothy H.
Longnecker.
In making the investment, KKR Founding Partner George R. Roberts said, "We
believe the Internet will continue to have a dramatic impact on the way
individual companies and industries operate. Dynamis is exactly the type of
organization that will shape the Internet revolution in B2B e-commerce. It
has a terrific value proposition and a talented management team that has
proven its ability to deliver results for its clients. We are very
enthusiastic about what we can accomplish together."
KKR Founding Partner Henry R. Kravis said, "We are in the early stages of
an Internet-driven transformation process in the corporate sector, and Dynamis
is poised to capitalize on this trend by delivering the types of services that
companies will need to transform themselves." Over its 24-year history, KKR
has made $96 billion of acquisitions and investments in Fortune 1,000
companies.
Such strong backing will put Dynamis in the forefront of providing end-to-
end e-business strategies and solutions, according to Longnecker. "We are
very excited about having KKR as our financial partner. KKR has always been
the epitome of bold and innovative thinking for business transformation.
KKR's leadership and guidance will serve Dynamis well as we continue toward
our goal of becoming the leading e-business services firm for the industries
we serve." David Chung, representing KKR on Dynamis' board of directors,
said, "We are very interested in the space that Dynamis competes in. We
believe the Internet services market is still in its infancy. Companies like
Dynamis that can drive value through strategy, process, technology and
organizational transformation will win."
Dynamis (http://www.edynamis.com ) serves established companies as well as B2B
dot-com startups in a variety of industries including automotive and high
technology. Dynamis' services range from helping organizations develop their
initial e-business strategies to the implementation of the latest e-business
packaged solutions. The firm combines sophisticated strategic consulting with
proven technology implementation skills to offer the most comprehensive
solutions in the industry.
Dynamis has assembled a senior management team from the most reputable
organizations in the world including Deloitte Consulting, McKinsey & Company,
Booz Allen & Hamilton and AlliedSignal. Before starting Dynamis, Longnecker
was a senior Partner with Deloitte Consulting specializing in automotive and
other manufacturing industries. While at Deloitte, he was responsible for
creating and leading a $20-million global practice that helped companies
improve supply chain and shared services processes with e-business solutions.
Before Deloitte, Longnecker was with Ford Motor Company. Other senior
managers include:
* Michael J. Ensing, President & Chief Financial Officer. Before
Dynamis, Ensing was a Manager with McKinsey & Company where he was a leader in
their procurement practice. While at McKinsey, Ensing led strategy,
e-procurement and other organizational transformation initiatives. Before
McKinsey, Ensing was with Deloitte Consulting.
* Philip E. Ross, Principal & Chief Business Development Officer. Before
Dynamis, Ross was a Senior Manager with Deloitte Consulting where he managed
large-scale system implementation and transformation projects for
manufacturing and financial services companies. He is a recognized leader in
value creation through supply chain transformation. Before Deloitte, he led
the commercial credit organization for Michigan National, a $12-billion
regional financial institution.
* Renee P. Krug, Principal & Chief Technology Officer. Before Dynamis,
Krug held various executive-level positions in supply chain management and
shared services with companies such as Allied Signal and Catholic Healthcare
West. While at Allied Signal, Krug managed the supplier payment process for
North American operations and was responsible for over $5 billion in spending.
* Jeffrey A. Bullard, Principal & Chief Operating Officer. Before
Dynamis, Bullard was a Senior Manager with Deloitte Consulting where he was a
leader in the automotive supply chain practice. He has helped some of the
world's largest organizations reinvent their business through e-business
strategy and business transformation projects. Before Deloitte, Bullard was
with Booz, Allen & Hamilton and IBM.
Dynamis is headquartered in Southfield, Michigan.
Since its founding in 1976, KKR (http://www.kkr.com ) has invested in excess of
$13.5 billion of equity in nearly 90 transactions with a total value of $96
billion across more than 25 different industries. Its most recent
transactions include buyouts of Shoppers Drug Mart, Bosch Telecom Private
Networks (Tenovis) and Wincor-Nixdorf; growth equity investments in Zhone
Technologies, Intermedia, and CAIS Internet; and venture investments in
BigVine.com, desktop.com, govWorks.com, MyPoints.com, StarMedia Network and
SupplierMarket.com. KKR has offices in New York City, Menlo Park, California,
and London.