Mike Ridgeway (Flintfox)
Private equity company Advent international, based in Melbourne, has bought a large stake in Kiwi supply chain management systems developer Flintfox International.
The partnership would allow Flintfox to further fast-track growth and enhance its revenue management and optimisation product portfolio.
According to the New Zealand Companies Office, Advent bought just over 50 per cent of the company's shares, but Mike Ridgway, CEO and chairman of Flintfox, told Reseller News that didn't account for options.
When these were included Advent controls around 47 per cent, he said. It would, however, get two out of three board seats.
All existing shareholders remained on the register, but some with lesser percentages.
“Advent Partners’ investment approach provides strong alignment with our strategy and offered us a strategic partnership to capitalise even further on our global presence as we begin to enter our next and very exciting phase of growth.” Ridgeway said.
The investment would allow Flintfox to invest further in research and development, particularly in the areas of revenue optimisation, pricing performance, and rebate management, ensuring Flintfox's global team of Microsoft Dynamics implementation consultants had the tools they needed to deliver "the best solution stack available on the market today", he added.
Over the last decade Flintfox has become recognised as one of the most influential Microsoft Global independent software vendors (ISVs) in the world in trade revenue management, and supply chain solution delivery.
The Company’s RMx Suite launched in 2017 offering a hyper-speed pricing engine and winning multiple accolades in the trade revenue management space.
Trade promotions are complicated things, varying from discounts, to free products, two for the price of one, three for the price of two, vouchers, rebates and more.
When a promotion ends, the supplier and the retailer will usually settle up in a process called "remittance".
“The adoption of Flintfox as a best of breed software solution is accelerating as global businesses seek better visibility and tools to exert control over trade revenue management and pricing strategies,” said Symon Vegter, partner at Advent.
The portfolio of products empower global customers to manage, track, and reconcile trade promotion and rebate expenditure, and execute multi-channel pricing strategies.
Brad Lynch, also a partner at Advent, said Flintfox had built an emerging global footprint but there was scope to accelerate international expansion in the large and rapidly expanding trade revenue management market.”
