Vivonet, a portfolio company of Marlin Equity Partners since December 2012, has acquired Syrus, a provider of back office and analytical reporting software used in the restaurant industry.
Syrus’ mobile and web-based SaaS offering provides insight into day-to-day operations of a restaurant that enable clients to grow sales; reduce food, inventory and labor costs; and improve operational efficiencies. Syrus is based in Columbus, OH (www.mysyrus.com).
Vivonet is a cloud-based point-of-sale software and systems provider to the food services sector. Vivonet’s products and services allow single and multi-location operations to remotely manage workflows, order management and consumer interactions. Vivonet’s more than 1,000 customers include contract foodservice operators, limited service restaurants, table service restaurants and retail operators. The company’s flagship product Halo is used for sales and loyalty management, sales analytics and enterprise management. Vivonet is based in Burnaby, British Columbia (www.vivonet.com).
“Over the past few years, Syrus has established itself as a leader in the back office software market for quick service restaurants. Syrus is a highly strategic acquisition for Vivonet and represents a significant step toward creating a full-service SaaS solution for the hospitality industry,” said Steve Johnson, a partner at Marlin.
Marlin Equity Partners invests in businesses that have revenues of $20 million to $1 billion and that are in the process of undergoing varying degrees of operational, financial or market-driven change. Sectors of interest include technology, healthcare, consumer products and services, business services, manufacturing, aerospace & defense, distribution & logistics, and media. The firm has $3 billion of capital under management and is headquartered in Los Angeles with an additional office in London (www.marlinequity.com).
Marlin continues to seek additional add-on acquisitions for Vivonet.
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-11-15