PE Deals

New Heritage-backed FMS acquires accounting services firm Retail Financial Services

Based in Fort Lauderdale, Florida, FMS is a provider of accounting solutions to businesses.

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  • The acquisition represents the third add-on for FMS since partnering with Heritage
  • RFS was founded in 2005
  • New Heritage Capital invests in the middle market

FMS Solutions, which is backed by New Heritage Capital, has acquired Retail Financial Services, a provider of accounting, tax preparation and tax planning services to independent grocers and other multi-site retail customers. No financial terms were disclosed.

Based in Fort Lauderdale, Florida, FMS is a provider of accounting solutions to businesses.

The acquisition represents the third add-on for FMS since partnering with Heritage.

RFS was founded in 2005.

“We are thrilled to be partnering with Mark, Lance and the entire RFS team,” said Bob Graybill, CEO of FMS, in a statement. “This acquisition represents another step towards our goal of offering a complete suite of tech-enabled and SaaS-based solutions to multi-site retailers, spanning store operations technology to back-office accounting support.”

FMS was launched in 1974.

Based in Boston, New Heritage Capital invests in the middle market.