AFS Technologies, Inc., a Phoenix, Arizona-based provider of software solutions to the food and beverage industry, has closed an equity financing led by Goldman, Sachs & Co.
In addition, AFS has arranged for senior debt financing from TPG Specialty Lending and Wells Fargo Capital Finance, part of Wells Fargo & Company.
The company intends to use the capital to buy out existing investors and finance several strategic acquisitions. In conjunction with the transaction, AFS acquired of Answers Inc. and Synectics Group, both of which provide Trade Promotion and Claims settlement solutions.
Led by CEO Kurien Jacob, AFS provides a business enterprise and Software as a Service (SaaS) comprehensive suite of automation solutions for manufacturers, distributors and brokers within the food and beverage industry. The company currently serves over 1,200 customers across the Americas.