NewBold Technologies, a portfolio company of Fort Point Capital, has acquired Spencer Technologies. Spencer installs, fixes and refreshes the technology inside retail and restaurant locations — it buys the hardware, configures it, sends technicians to put it in the store, then answers the phone when it breaks. Its work covers point-of-sale systems, networks, audio-visual installations, kiosks and payment systems for multi-site retail and hospitality brands, and it supports more than 1,500 store openings a year.
Founded in 1972 in Medway, Massachusetts, Spencer is led by chief executive officer David Strickler, who said the combination lets it serve customers at a higher level, several of them clients for two decades. Johan Claassen, chief executive officer of NewBold, said Spencer’s retail relationships and project management pair with NewBold’s payment device expertise and technician network. Fort Point is investing from its third fund, which closed in September 2022 at its $340 million hard cap.
