Loftware, a portfolio company of Riverside Partners, has acquired Gap Systems, a provider of SaaS-based artwork management services.
Gap Systems is a provider of project management and business process systems used by companies to manage artwork, web graphics and video content during the marketing and development of new products. Customers of Gap Systems typically operate in regulated industries such as consumer packaged goods, food & beverage, and pharmaceuticals. The company was founded in 2002 and is based in Leeds, UK (www.gapsystems.net).
Loftware is a provider of enterprise labeling software and services (barcode labels, documents, and RFID smart tags) that are used to design, distribute, deliver and trace labels for supply chain applications. The company’s products are designed to meet both customer-specific and regulatory requirements and the company has more than 5,000 customers in over 100 countries. Loftware is headquartered in Portsmouth, NH (www.loftware.com).
The buy of Gap Systems enables Loftware to now serve the full spectrum of labeling and packaging artwork requirements across an expanded range of industries, with a special focus on pharmaceutical, medical device, manufacturing, food & beverage, chemical, retail, and consumer packaged goods. The combined platform – whether used for labeling, artwork management or both – enables customers to improve time to market, mitigate risk, reduce supply chain complexity, and lower costs. “Loftware and Gap offer truly complementary solutions that the market needs, especially as companies look to standardize on a single platform that can create, manage and print labels and packaging artwork across worldwide operations,” said Gap Systems Founder and CEO, Paul Goldberg. “Now internal and external stakeholders in packaging, regulatory, quality, operations, manufacturing, supply chain and marketing can address a more extensive set of requirements.”
“Our investment thesis for Loftware anticipated growth both organically and through selective strategic acquisitions to extend its leadership position in enterprise labeling. With their sustained performance and now the acquisition of Gap Systems, Loftware is well on its way to achieving those objectives,” said David Belluck, General Partner at Riverside Partners.
“Several years ago, Loftware partnered with Riverside Partners to embark on a meaningful expansion of our business. With the support of the team at Riverside, we are transforming the label and artwork management space by delivering this unprecedented platform,” said Loftware CEO, Robert O’Connor, Jr.
Riverside Partners invests in middle market healthcare and technology-oriented companies that have revenues from $20 million to $200 million and EBITDAs from $5 million to $25 million. The firm is currently investing its fifth fund, Riverside Partners Fund V, with $561 million of capital commitments. Riverside was founded in 1989 and is based in Boston (www.riversidepartners.com).
© 2018 Private Equity Professional | March 12, 2018
