T2 Systems Attracts $28M Investment From Pamlico Capital

INDIANAPOLIS, Sept. 30, 2011 /PRNewswire/ — Pamlico Capital and the management
team of T2 Systems announced today that Pamlico has made a $28 million equity
investment in T2 Systems, Inc. T2, founded in 1994, is a rapidly growing
provider of unified SaaS (Software as a Service) parking management solutions in
the U.S. and Canada. CEO Mike Simmons will retain significant ownership of T2
and will continue to manage the growth of the company in partnership with
Pamlico and the existing senior management team. Pamlico has also committed to
investing additional expansion capital. Detailed terms of the transaction have
not been disclosed.

T2 Systems is the only provider of a unified SaaS parking management solution
for universities, municipalities, event facilities, hospitals and private
parking providers. No other company in the industry offers the same breadth of
solutions on a single platform including permit management, enforcement, PARCS
(parking access and revenue control systems) and event parking. T2 solutions
offer an information-centric approach with real-time data availability in a
PCI-compliant hosting environment.

“We chose to partner with Pamlico because of its track record of supporting
companies and entrepreneurs as a growth capital provider,” said Mike Simmons, T2
CEO. “T2 is poised to continue to grow as parking operations focus on unifying
all operational and financial data in a single system in order to maximize
parking revenue and utilization of parking assets, while delivering high-quality
customer service demanded by today’s consumer. The expertise and resources
Pamlico brings to our team will be critical assets in these endeavors.”

Pamlico Partner Walker Simmons said, “Our focus on making equity investments in
growing and profitable industry-leading technology companies led us to T2. We
were tremendously impressed by the caliber and breadth of the management team,
as well as the opportunity T2 has to capitalize on the favorable trends in
intelligent transportation and infrastructure markets.”

T2 was advised by Harris Williams & Co. (investment banker), Barnes & Thornburg
LLP (legal advisor), and Katz Sapper and Miller (financial and tax advisor).
Pamlico was advised by Alston & Bird LLP (legal advisor).

About T2 Systems

Since 1994, T2 Systems has delivered proven parking solutions that meet the ever
changing needs of the parking industry. This commitment is evident in T2′s
quality products and services, thought leadership and strong customer
relationships. With its broad range of technology-based solutions, T2 Systems is
trusted by more than 350 organizations in the US and Canada including
universities, cities, towns, hospitals, airports and private operators. T2
Systems is headquartered in Indianapolis, Indiana and has virtual offices
throughout the United States and Canada.

For additional information about T2 Systems, Inc. products and services, visit
www.T2systems.com.

About Pamlico Capital

Pamlico Capital is a private equity firm founded in 1988 that invests in growing
middle market companies. Pamlico Capital seeks growth equity and buyout
investments of up to $100 million alongside proven management teams in its
target industries, which include business & technology services, communications,
and healthcare. The firm, based in Charlotte, NC, currently manages over $2
billion in committed capital. Please refer to www.pamlicocapital.com for
additional information.

Contact:
Tracy Maymon
Marketing Communications Manager
T2 Systems, Inc.
(317) 524-7453
tmaymon@t2systems.com

SOURCE T2 Systems, Inc.