FMS Solutions Acquires Retail Financial Services

FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–FMS Solutions (“FMS”), a New Heritage Capital portfolio company, announced it has acquired Retail Financial Services (“RFS”). Founded in 2005, RFS provides accounting, tax preparation and tax planning services to independent grocers and other multi-site retail customers.

The acquisition represents the third add-on for FMS since partnering with Heritage. Acquiring RFS adds a new tax preparation and planning service offering, enabling FMS to expand its menu of value-added services for retailer customers.

“We are thrilled to be partnering with Mark, Lance and the entire RFS team,” said Bob Graybill, CEO of FMS. “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.”

Mark Franklin, Founder of RFS, shared, “The leadership group at RFS is excited to announce the partnership with FMS. We have developed strong relationships with our retailers over the past 17 years, and with FMS’ support and resources look forward to serving those customers in the future with the same level of personalized service.”

FMS continues to actively seek acquisitions that would complement its cutting-edge suite of tech-enabled and SaaS-based 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.

Contacts

Charlie Gifford

New Heritage Capital, LLC

617-320-9506

cgiffford@newheritagecapital.com

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