DaySmart Software, an Ann Arbor, MI-based provider of integrated business management software to the salon, pet care, spa and tattoo industries, completed a growth-oriented recapitalization led by LLR Partners and Parthenon Capital.
The seller in the transaction was SFW Capital Partners, a specialized private equity firm that invests in mid-sized companies providing software, analytical tools and workflow solutions.
The amount of the deal was not disclosed.
The company intends to use the funds to increase investment in its product suite and pursue complementary acquisitions.
Founded in 1999 and led by CEO Jeff Dickerson, DaySmart provides a software platform that enables small and medium-sized businesses to simplify operations and automate critical business functions, including appointment booking, employee scheduling, client communication and payment acceptance.
The company currently serves 20,000 global customers.