Marking the third investment in Fund
III
BOSTON, Aug. 13,
2024 /PRNewswire/ -- Fort Point Capital, a
Boston-based private equity firm,
announced that it has acquired NewBold Corporation ("NewBold" or
the "Company"), a leading provider of managed technology services
to the quick service restaurant, retail, warehousing, and
healthcare industries. Headquartered in Greenville, SC, NewBold supports point-of-sale
("POS"), automatic identification and data capture ("AIDC"), and
payment device product lines, with services including on-site
service response, depot repair services, technology procurement and
deployment, configuration and integration, help-desk support, and
payment device encryption and injection services.
"The partner-of-choice for technology OEMs
and multi-site enterprises with complex, mission-critical
technology needs."
"Over the past five years, Keith
Howerin and the talented team at NewBold have made
investments in new capabilities and executed on strategic
acquisitions to build a leading technology services platform, and
we are very excited to support the Company's next phase of growth,"
said Paul Lipson, Partner at Fort
Point Capital. "NewBold's reputation as the partner-of-choice for
technology OEMs and multi-site enterprises with complex,
mission-critical technology needs is a testament to the Company's
outstanding service record and unique expertise."
"We are thrilled to partner with the Fort Point Capital team,"
stated Keith Howerin, CEO of
NewBold. "This investment comes at an exciting time for NewBold –
as field technology proliferates, customers are looking for a
partner that can deploy, manage, and support their critical
hardware assets across complex real estate footprints. Through
continued investments in talent and technical capabilities, we see
tremendous opportunity to expand our service suite with existing
customers and support new accounts across end markets."
"We have been extremely impressed by NewBold's track record of
growth and ability to serve customers at all stages of the
technology cycle," added Michael
Duffy, Vice President at Fort Point Capital. "The Company
also has a track record of expanding its commercial and technical
reach through successful acquisitions, and we will seek to build on
and accelerate that strategy during our partnership."
Old Second National Bank and Brookside Mezzanine provided debt
financing for the transaction. Akerman LLP and Forvis Mazars, LLP
advised Fort Point Capital, while Artisan Investment Banking and
Metz Lewis Brodman Must O'Keefe
advised the Company.
About NewBold:
Founded in 1994, NewBold is a leading technology managed
services provider, providing OEMs and multi-site enterprises with
specialized deployment, integration, repair, and maintenance
services for point of sale and automated identification and data
capture equipment. NewBold also operates a PCI-compliant key
injection facility, serving as a one-stop payment device solutions
provider to end users and channel partners throughout the payments
ecosystem. To learn more, please visit
https://www.newboldcorp.com.
About Fort Point Capital:
Fort Point Capital, a Boston-based private equity firm, employs a
management-led, growth-oriented approach to private equity
investing. Since its inception in 2011, Fort Point has partnered
with founders and management teams to accelerate growth, expand
service offerings, access new markets, and support follow-on
acquisitions. With a portfolio that reflects over 50 acquisitions,
Fort Point Capital continues to deliver enduring value to its
partners, employees, and shareholders. Currently, the firm is
investing from FPC Small Cap Fund III. To learn more, please visit
https://fortpointcapital.com/.
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SOURCE Fort Point Capital