Middle market private equity firm HGGC said Thursday that it has closed its buy of Buy4Now Technology Group. No financial terms were disclosed. Buy4Now will become a subsidiary of MyWebGrocer, which is backed by HGGC. Based in Dublin, Ireland, Buy4Now is a provider of ecommerce software solutions to grocery and retail clients in Europe.
PALO ALTO, Calif.—February 6, 2013—HGGC, a leading middle market private equity firm, today announced that it has completed the acquisition of Buy4Now Technology Group (“Buy4Now”), a Dublin, Ireland-based provider of eCommerce software solutions to grocery and retail clients in Europe. Buy4Now will operate as a subsidiary of MyWebGrocer, Inc., the leading provider of digital marketing solutions to more than 140 grocery retailers representing 10,000 stores, as well as over 200 global Consumer Packaged Goods brands. Terms of the private transaction were not disclosed.
Buy4Now, founded in 2000 with backing from major Irish businesses, serves grocery and retail clients in Europe, including Musgrave Group, the largest grocery distributor in Ireland. The acquisition will bolster MyWebGrocer’s existing European presence that includes a London office, two international hosting centers in the UK and the Netherlands, and a development center in Romania.
“The acquisition of Buy4Now supports MyWebGrocer’s global ambition by providing the technology platform and personnel to replicate our business model in Europe,” said Rich Tarrant, a Founder and CEO of MyWebGrocer. “The Buy4Now team has a prolific understanding of the eGrocery sphere and an international client base that will allow us to continue our growth trajectory. Additionally, Buy4Now’s extensive general merchandise capabilities will expand MyWebGrocer’s solution offerings.”
“This is a great combination of two complementary businesses driving the transformation of the grocery sector for eCommerce and digital marketing solutions,” said Rich Lawson, CEO and Managing Partner at HGGC. “This deal demonstrates not only HGGC’s commitment to grow MyWebGrocer through strategic acquisitions, but also our ability to execute a proven strategy of helping portfolio companies address the global marketplace.”
In 2013, HGGC sold European multichannel commerce software company hybris software to SAP after combining the company with Montreal-based iCongo to create the world’s largest independent eCommerce software business. In 2012, HGGC sold Sunquest Information Systems to Roper Industries for $1.42 billion after acquiring Powerpath from Elekta of Sweden to expand the company’s international footprint.
Based in Palo Alto, California, HGGC is a leading private equity firm focusing on leveraged buyout, recapitalizations and growth equity transactions in the middle market. The firm seeks to partner with strong management teams and founders to build companies capable of generating sustainable growth. With years of collective deal and operational experience, HGGC brings best practices from private equity and global corporations to help middle market businesses in a wide range of industries outperform the market. For more information, please visit www.hggc.com.
Buy4Now Technology Group is Ireland’s leading provider of eCommerce solutions using the ‘Software as a Service’ model. The on demand platform allows the Buy4Now Technology Group to implement sophisticated enterprise eCommerce solutions as a one stop shop incorporating high availability hosting, integration to ERP, customised web storefront, Merchandising, Helpdesk, Fulfillment and Handheld Picking, Reporting and Customer Communications software. Buy4Now Technology Group’s clients include Superquinn, Musgraves, 3 Mobile, Arnotts, Woodies, Elverys, Currys and PC World. Information on the complete product and service offer is available at www.buy4now.com
MyWebGrocer drives digital connections between consumers, grocery retailers, and Consumer Packaged Goods brands, offering a breadth of shopper marketing services supported by a comprehensive technology platform. MyWebGrocer manages digital solutions for more than 140 retailers nationally, representing more than 10,000 stores, and 200+ major CPG brands. For more information on MyWebGrocer, please visit www.mywebgrocer.com.