STG Bolsters Quor’s CTRM Capabilities with Acquisition of Eka Software

In a move signaling strategic expansion, STG, a US-based private equity firm specializing in software and tech services, has acquired Eka Software Solutions (“Eka”), a leading global provider of commodity management solutions with expertise in soft ags and energies markets. With nearly twenty years of experience, Eka has established itself as a key player in commodities trade and risk management (“CTRM”) and supply chain solutions, consistently offering innovation through its modern vertical SaaS platform.

STG intends to merge Eka with Quor Group (“Quor”), an existing portfolio company specializing in CTRM offerings within the metals sector. This merger marks a significant advancement for the CTRM industry, providing a comprehensive software suite addressing diverse customer needs across global asset classes.

Eka’s innovative technology and approach will complement Quor’s offerings, enabling the combined entity to navigate the complexities of commodity markets more effectively, especially amid increasing market volatility and heightened risk profiles. Together, Quor and Eka aim to meet customer demands, drive innovation, and set new industry standards.

William Chisholm, Managing Partner at STG, praises Eka’s product portfolio and commits to further investment in innovation to enhance value for clients. Ishan Manaktala, Operating Partner at STG, echoes this commitment to support both Quor and Eka in delivering exceptional solutions.

Manav Garg, founder and CEO of Eka, will continue to contribute to the strategic direction of the merged company as a Board Advisor, leveraging his industry insight and leadership. He highlights the timely nature of the merger amid market challenges, emphasizing the need for solutions from Eka and Quor.

Steve Hughes, CEO of Quor, expresses enthusiasm about the strategic synergies, anticipating a transformative impact on the CTRM industry. He looks forward to collaborating with Manav and leveraging his expertise to drive growth and success.

The acquisition was facilitated by financial advisor Jefferies LLC and legal advisor DLA to STG, with debt financing provided by Tree Line Capital Partners.