BOSTON, MA – (BUSINESS WIRE) February 18, 2021 – New Heritage Capital (“Heritage”), a Boston-based private equity firm, is pleased to announce a new platform investment in FMS Solutions (“FMS” or the “Company”), a leading provider of SaaS-based business process outsourcing (“BPO”) services to independent grocers and other multi-unit retailers. FMS’ comprehensive range of accounting and payroll solutions enable its 5,000+ retailer customers to run more efficient operations and make informed strategic decisions on a daily basis.
The transaction was structured using Heritage’s unique Private IPO® solution, which allows CEO Bob Graybill and COO Jon Cline to retain operating control while providing them the desired liquidity and financial flexibility to accelerate future growth.
FMS has provided operation critical BPO solutions to independent grocers for over 45 years, building an unmatched reputation for reliable service and personalized customer support. “We are very excited to bring on Heritage as a partner for growth,” said Bob Graybill. “We work tirelessly to provide our customers with superior service and in-depth industry expertise. In Heritage, we found a partner who understands that philosophy and is supportive of our vision for the future.”
Melissa Barry, Partner at Heritage, added, “We could not be more impressed with Bob and the entire FMS management team. We believe their leadership, combined with best-in-class BPO services and decades of experience in retail grocery, position FMS as a true market leader and critical partner to its customers. We look forward to working with Bob and his team to execute on their exciting growth plans.”
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.