Buyers Edge Platform Announces Significant Growth Investment from Bregal Sagemount
WALTHAM, Mass.--(BUSINESS WIRE)--Jul 8, 2019--
Buyers Edge Platform, the leading provider of procurement software, group purchasing, and data analytics to the food service industry, today announced a significant investment from Bregal Sagemount, a New York-based growth capital fund. Goldman Sachs Specialty Lending Group and AB Private Credit Investors provided debt financing. The transaction will enable the Company to pursue accretive mergers and acquisitions, invest in strategic growth initiatives, and make further platform innovations. Financial terms of the transaction were not disclosed.
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Buyers Edge Platform represents a network of companies and 50,000 operator locations. The Company extends its software and data solutions, partnerships and contracts to its members, empowering them to improve their client service offerings by leveraging the Platform’s over $7.5 Billion in annual spend. As a Group Purchasing Organization (GPO), Buyers Edge Platform provides its members discounted prices and rebates through its procurement network and price-driven contracts that are delivered via its growing portfolio of companies, including Dining Alliance, Consolidated Concepts, Buyers Edge Purchasing, Axis Purchasing, Sundell and Associates, RP Procurement, FoodBAM, Source1 Purchasing, Fresh Concepts and other member GPOs and consulting companies.
Buyers Edge Platform Chief Executive Officer, John Davie commented, “When I founded Dining Alliance in 1998, I knew that growth was paramount for success. We started by targeting the independent restaurant market and have now created and acquired brands that reach thousands of multi-unit concepts, casinos, hotels and lodging properties, entertainment venues, higher education institutions, and other food service operators. This new partnership with Bregal Sagemount affords us the capital and guidance to bring new partners and companies onto the Buyers Edge Platform and continue our exponential growth trajectory.”
“We are thrilled to partner with John, and the rest of the team at Buyers Edge to support the Company’s next phase of growth,” said Bregal Sagemount Partner Phil Yates. “We believe procurement networks in the food services space will follow a similar adoption curve to the healthcare sector. Given the restaurant market is largely unpenetrated, we see an exciting opportunity to continue to deliver savings to new members while providing our manufacturer and distributor partners with increased visibility and transparency into their downstream supply chains.”
About Buyers Edge Platform
Buyers Edge is the leading provider of procurement software, scaled group purchasing, and data analytics to the food service industry. Based in Waltham, Massachusetts, the Company represents a network of companies and 50,000 operator locations. For more information on Buyers Edge, please visit www.buyersedgeplatform.com or our LinkedIn page.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm with $2.0 billion in committed capital. Founded in 2012, the firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $15 million to $200 million per transaction into both control and non-control positions, and will make equity and/or junior debt investments. Targeted sectors include software, digital infrastructure, healthcare IT services, business and consumer services, and financial technology / specialty finance. For more information, please visit www.sagemount.com.
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CONTACT: Buyers Edge Platform Press Contact:
Vice President of Marketing
email@example.com Bregal Sagemount Press Contact:
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK MASSACHUSETTS
INDUSTRY KEYWORD: RETAIL DATA MANAGEMENT TECHNOLOGY FINANCE CONSULTING BANKING PROFESSIONAL SERVICES SUPPLY CHAIN MANAGEMENT RESTAURANT/BAR SOFTWARE FOOD/BEVERAGE
SOURCE: Bregal Sagemount
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PUB: 07/08/2019 06:00 AM/DISC: 07/08/2019 06:00 AM