FMS Solutions, which is backed by New Heritage Capital, has acquired GOT Systems, a provider of SaaS-based product ordering, shrink and markdown tracking and grind log services to U.S. grocers. No financial terms were disclosed.
FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–FMS Solutions (“FMS”), a New Heritage Capital portfolio company, announced it has acquired GOT Systems (“GOT”). GOT provides SaaS-based product ordering, shrink and markdown tracking and grind log services to U.S. grocers.
The acquisition represents the second add-on for FMS since partnering with Heritage, and enables FMS to offer a broader menu of value-added services designed to meet the evolving needs of its retailer customers.
“We are very excited as GOT brings new services that help further our mission of improving retailer profitability and operational efficiency,” said Bob Graybill, CEO of FMS. “GOT has developed strong relationships with its retailers over the past four decades, and we look forward to continuing to serve those customers with the same reliable service and personalized support.”
Sam Levine, President of GOT, shared, “With FMS and Bob’s dedication and resources, I felt this event would help GOT expand on its offerings and services for the independent retailers, while preserving the culture I hold so close. This step will help move both GOT and FMS to a whole new level.”
“This acquisition represents the first step towards executing on our investment thesis of offering the complete suite of tech-enabled and SaaS-based solutions to multi-site retailers, spanning front-of-store ordering to back-office accounting solutions,” added Melissa Barry, Partner at New Heritage Capital. “We are excited to continue to support Bob and the FMS team as we continue to build out our solutions-oriented offering at FMS.”
FMS continues to actively seek acquisitions that would complement its cutting-edge suite of tech-enabled solutions for multi-site retailers.
About FMS Solutions
Since 1974, FMS has provided comprehensive BPO services to independent grocers across the U.S., Canada and Caribbean. FMS’ experienced, retail-oriented staff help businesses succeed by transforming historic accounting and payroll activities into timely, accurate decision support tools.
About New Heritage Capital
New Heritage Capital is a Boston-based private equity firm with a twenty-year history of partnering with growing, middle market, founder-owned businesses. With its innovative investment structures like the Private IPO®, Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. With decades of experience at managing growth, Heritage gives its partners the strategic, operational and financial guidance to help its companies reach their growth objectives.