MHC Software, a Minneapolis-based provider of enterprise content automation and document management software solutions, received a majority investment from Strattam Capital.
Debt financing for the transaction was provided by Madison Capital Funding.
The amount of the deals was not disclosed.
The company intends to use the funds to drive innovation and growth.
As part of this transaction, MHC simultaneously acquired Vanguard Systems, a leader in workflow and process automation solutions with offices in Pennsylvania and California.
Led by newly promoted CEO Gina Armada with co-founder and prior CEO John Shields becoming Chairman of the Board, the combined company delivers enterprise-grade content automation solutions that allow customers to enhance their productivity and profitability by transforming manual, paper-based processes into highly automated digital solutions. The company’s software is utilized in myriad processes including the entire procure-to-pay cycle, and it seamlessly integrates with a wide range of ERP systems to ensure data integrity throughout the entire workflow process.
With this merge, the company now serves over two million users across more than 1,100 customers including Boston Medical Center, CBS and Zaxby’s.