Buyers Edge Platform, a leading provider of procurement software, group purchasing, and data analytics to the foodservice industry, announced a significant investment from Bregal Sagemount, a New York-based growth capital fund. Goldman Sachs Specialty Lending Group and AB Private Credit Investors provided debt financing. The transaction will enable the Company to pursue accretive mergers and acquisitions, invest in strategic growth initiatives, and make further platform innovations. Financial terms of the transaction were not disclosed.
Buyers Edge Platform represents a network of companies and 50,000 operator locations. The Company extends its software and data solutions, partnerships and contracts to its members, empowering them to improve their client service offerings by leveraging the Platform’s over $7.5 Billion in annual spend. As a Group Purchasing Organization (GPO), Buyers Edge Platform provides its members discounted prices and rebates through its procurement network and price-driven contracts that are delivered via its growing portfolio of companies, including Dining Alliance, Consolidated Concepts, Buyers Edge Purchasing, Axis Purchasing, Sundell and Associates, RP Procurement, FoodBAM, Source1 Purchasing, Fresh Concepts and other member GPOs and consulting companies.
Buyers Edge Platform Chief Executive Officer, John Davie commented, “When I founded Dining Alliance in 1998, I knew that growth was paramount for success. We started by targeting the independent restaurant market and have now created and acquired brands that reach thousands of multi-unit concepts, casinos, hotels and lodging properties, entertainment venues, higher education institutions, and other foodservice operators. This new partnership with Bregal Sagemount affords us the capital and guidance to bring new partners and companies onto the Buyers Edge Platform and continue our exponential growth trajectory.”
“We are thrilled to partner with John, and the rest of the team at Buyers Edge to support the Company’s next phase of growth,” says Bregal Sagemount Partner, Phil Yates. “We believe procurement networks in the foodservices space will follow a similar adoption curve to the healthcare sector. Given the restaurant market is largely unpenetrated, we see an exciting opportunity to continue to deliver savings to new members while providing our manufacturer and distributor partners with increased visibility and transparency into their downstream supply chains.”
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