Acquisition will strengthen ERP vendor’s position in key vertical markets
London, UK, 1st June 2012 - Solarsoft Business
Systems ('Solarsoft') announced today that the shareholders and
management of Progressive Solutions Incorporated ('PSI') have
agreed to accept an offer from Solarsoft to acquire PSI.
PSI, which is privately held, provides specialist enterprise
software for producers, manufacturers and distributers in the
lumber and building materials supply chain. Since 1989, PSI has
grown to become the leading supplier of management systems to saw
mills, lumber yards and suppliers of construction materials in
North America and the UK. With its proven expertise and
class-leading products, bisTrack and lumberTrack, PSI has
established an outstanding reputation for high quality service and
Commenting on the transaction, Shawn McMorran, chief executive
of Solarsoft Business Systems, stated: "I am delighted to be able
to make this announcement because PSI is a great business and an
excellent fit with Solarsoft. This acquisition will add significant
strength to our offering for distribution and wholesale customers.
Furthermore, it brings to Solarsoft a talented and successful team
with deep vertical market expertise and a commitment to excellence
in customer service. PSI's customers will benefit from being
supported by a larger organisation with international operations.
We see a bright future together."
"We believe that the combination with Solarsoft will provide
fresh momentum to the ongoing development of PSI's products and
services for the benefit of customers, suppliers and employees,"
said Len Williams, president, CEO and founder of PSI.
Andy Hovancik, chief operating officer at Solarsoft added:
"Solarsoft has an established position in distribution and
wholesale systems in the UK and Ireland. Bringing PSI's
market-leading applications into Solarsoft will allow us to
accelerate our strategic expansion in the lumber and wood products
sector. Together, we will continue to develop the outstanding
reputation that PSI has built for product innovation, expertise and
Solarsoft is backed by Marlin Equity Partners, a leading private
equity investment firm with over US$1 billion of capital under
About Solarsoft Business Systems
Solarsoft provides modern enterprise software and IT services to
manufacturers, distributors and wholesale businesses in North
America, Europe and Asia. The company has grown organically and
through acquisition since 1986 and employs more than 450 people
providing local support across 16 time zones. More than 2,500
companies rely on Solarsoft to bring clarity and efficiency to
their daily operations. Worldwide revenues when combined with PSI
will be in the order of US$100 million.
For more information about Solarsoft please visit www.solarsoft.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Solarsoft Business Systems
Tanja Boesche (North America)
T: +1 (604) 685-4209
Alison Smith (EMEA)
T: +44 (0)8447 700 900 ext. 5519
Progressive Solutions Incorporated
Len Williams, President and Chief Executive Officer
T: +1 (604) 214 8750 or +44 (0)1928 593377
Solarsoft acquires Progressive Solutions Inc.