RELEASE: May 7, 2003
CINCINNATI — Effective May 1, 2003, Cadence Network, Inc. of Cincinnati, Ohio officially announces the acquisition of Donahue Consulting, Inc of Loveland, Ohio. The acquisition brings together the industry’s most powerful expense management service and the market’s leading lease auditing service, creating a potent combination to assist companies with multiple facilities aggressively manage their facility related expenses.
Donahue Consulting was formed in 1999 and since it’s inception has recognized over $30 million of audit recoveries for its clients. Donahue Consulting is an innovator in the lease auditing industry and is continuously pursued for their industry knowledge and creative approaches to auditing leases.
The acquisition brings together the two organization’s complementary services, allowing Cadence to rapidly advance the continued evolution of its core expense management services. Lease auditing is a natural extension of its existing expense management services portfolio, which includes invoice auditing, rate analysis, energy procurement, etc.
“The acquisition of Donahue Consulting enables Cadence to continue to drive value to our customers,” said Madeleine Ludlow, President and CEO of Cadence Network, Inc. “This service is the perfect fit into our existing service portfolio and demonstrates our commitment to continue to grow the Cadence solution and ultimately produce hard dollar savings for our customers. Donahue Consulting is an extremely successful business and we are very excited to have them become part of our team”.
Mike Donahue, President and CEO of Donahue Consulting, Inc., said, “The Cadence and Donahue Consulting union is a very positive and natural next step for the companies. Both companies bring a wealth of industry knowledge, domain expertise and technology that we will be able to leverage and aggressively extend the value we deliver to our customers. We are looking forward to joining the Cadence team.”
About Cadence:
Cadence helps companies with multiple facilities monitor and manage one of their third largest costs of doing business - facility-related energy, water, and telecommunication expenses.
Cadence provides Accounts Payable outsourcing solutions, web-based software applications and professional services (including invoice auditing, rate analysis, energy procurement, benchmarking and budget forecasting) that address the unique business needs of companies with many departments managing many vendors across many geographically dispersed locations.
Cadence's Solution delivers hard-dollar cost savings and efficiencies with average net returns greater than 200% for tens of thousands of facilities throughout North America. Cadence is an independent and privately held company located in Cincinnati, Ohio.
CONTACTS
Cadence Network Contact: Ben Dolan, Cadence Network, Inc. 866-CADENCE (866.223.3623) bdolan@cadencenetwork.com