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Polaris Library Systems Announces Employee Ownership Agreement

Press Release: Polaris Library Systems [January 15, 2010]

Copyright (c) 2010 Polaris Library Systems

Abstract: Polaris Library Systems announced an agreement that transitions the company to employee ownership. The agreement was made with Croydon Company, the privately held investment firm that has owned Polaris from its inception in 1974. Under the terms of the agreement, the Polaris senior leadership team stays at the helm as key stakeholders. Polaris also welcomes a new member to the management team, Jim Carrick. Prior to joining Polaris, Carrick owned Strategic Computer Solutions, a reseller of IBM hardware and software. Jim joins the company as a senior business advisor.


Syracuse, NY, January 15, 2010 - Polaris Library Systems, a leading provider of library automation technology, announced today an agreement that transitions the company to employee ownership. The agreement was made with Croydon Company, the privately held investment firm that has owned Polaris from its inception in 1974.

"Under the steady direction of Bill Schickling and the management team, Polaris Library Systems has grown to become the highest ranking ILS vendor with respect to overall customer satisfaction and the leading ILS choice for mid-size to large public libraries," said Croydon Principal Martin Blackman. "By transitioning the company to this existing team, we are confident that Polaris will continue to thrive and grow with the same level of dedication, integrity, and caring for its customers and for the industry."

Under the terms of the agreement, the Polaris senior leadership team stays at the helm as key stakeholders. The company will remain focused on the development and support of the Polaris ILS and on complementary ILS products and services.

In addition to the current leadership, Polaris also welcomes a new member to the management team, Jim Carrick. Prior to joining Polaris, Carrick owned Strategic Computer Solutions (SCS), a reseller of IBM hardware and software. Jim joins the company as a senior business advisor.

"We are thrilled to announce that Polaris is transitioning to employee ownership," said President & CEO Bill Schickling. "To our customers, our partners, and our employees, this announcement essentially means a continuation of business as usual. However, now the leadership and owners are one and the same. Polaris remains, and will continue to remain, committed to providing the best possible service and solutions to help our customers better serve their communities."

About Polaris Library Systems

For thirty years, Polaris Library Systems has served libraries with time-saving technology, from its first circulation system in the mid-1970s through its third-generation Polaris Integrated Library System (ILS). In addition to its library automation systems, Polaris Library Systems offers work-flow analysis, database enhancement, wireless access, and network services to libraries. For more information about Polaris Library Systems, visit www.polarislibrary.com.

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Publication Year:2010
Type of Material:Press Release
Language English
Issue:January 15, 2010
Publisher:Polaris Library Systems
Company: Polaris Library Systems
Subject: Mergers and acquisitions
Record Number:14478
Last Update:2012-12-29 14:06:47
Date Created:2010-01-15 16:24:48