Buyers Edge Platform, a Waltham, MA-based company provider of digital procurement solutions for the foodservice industry, received a $425M equity investment.
Backers consisted of a consortium led by General Atlantic Credit’s Atlantic Park fund, alongside funds managed by Blackstone Tactical Opportunities and investment funds managed by Morgan Stanley Tactical Value. As part of the transaction, Bregal Sagemount, Buyers Edge Platform’s first institutional investor, will exit its minority stake in the business, and John Davie, Founder and CEO of Buyers Edge Platform, will increase his majority stake.
Led by John Davie, Founder and CEO, Buyers Edge Platform is dedicated to empowering stakeholders across the entire foodservice ecosystem (operators, distributors, manufacturers) with efficiency and visibility. With a diverse portfolio of over two dozen brands, the company aims to reduce costs, streamline the foodservice supply chain, and propel the industry from manual to automated. Today, the company is one of the largest players in foodservice, with over 200K operator locations across North America and over $60 billion of aggregated spend volume.
Commenting on the news, John Davie said: “Buyers Edge Platform has always been focused on driving better economic outcomes for foodservice stakeholders through technology. Our new partnership with GA Credit, Blackstone, and Morgan Stanley Tactical Value will enable us to fund key strategic initiatives and provide us with access to these firms’ global platforms and operational resources. Their support will allow us to continue on our mission of delivering even greater efficiency, connectivity, and value to the foodservice ecosystem. We also want to thank the team at Bregal Sagemount for helping to enable our significant expansion over the last five years. Together, we have grown our revenue and profits by ~300% since Bregal Sagemount’s initial investment in 2019. We pursued a highly value-accretive M&A strategy by integrating 21 acquisitions, while driving strong organic growth.”
FinSMEs
09/04/2024