ADC Announces Growth Recapitalization with Prairie Capital
TAMPA, Fla., Nov. 17, 2020 /PRNewswire-PRWeb/ -- Applied Data Corporation (ADC), the leading provider of Fresh Item Management technology for grocery and convenience stores, announced today that it has completed a growth recapitalization transaction with Prairie Capital, a proven firm in scaling companies across a wide-array of industries. Prairie Capital's investment will enable ADC to accelerate growth, rapidly deliver on innovations within its product suite, and scale across the grocery and convenience store sectors.
For nearly 30 years, ADC has been a trusted provider to over 20,000 grocery and convenience store locations. The company's SaaS platform is designed to optimize food retailers fresh ordering and production, find and reduce food waste, improve inventory freshness and availability, manage food safety, properly label fresh items, and track recipes and cost all in one easy to use system.
"Prairie Capital understands the challenges and opportunities inherent to scaling companies. With ADC's exceptional history with customers as an innovator in the space and Prairie Capital's resources and guidance, we believe the partnership will take the company to new heights," states Tony Danielak, Vice President at Prairie Capital. "This recapitalization will help build upon ADC's market leadership position with grocery and convenience stores."
Shamus Hines, CEO of ADC states, "We are thrilled to be working with the Prairie Capital team to support our vision and strategy of being leaders in providing Fresh Item Management SaaS solutions to the food retail and foodservice industries." Hines further states, "The partnership with Prairie Capital will enhance our investment in product development and client success and will allow ADC to focus on expanding our customer base, continued innovation and market leadership."
Raymond James acted as a financial advisor to ADC.
About Applied Data Corporation
To us, it is all about fresh. We are fresh food technology innovators. Our platform, FreshIQ®, allows you to effectively plan, prepare, analyze, and deliver the fresh food items your shoppers want. This all-in-one platform is easy to use and leverages our thirty years of industry expertise to bring you the most robust, cloud solution on the market. ADC is deployed in more than 120 grocery and conveniences store chains and 20,000 locations. For more information, please visit http://www.applieddatacorp.com.
About Prairie Capital
Prairie Capital is a growth-oriented private equity firm that focuses on partnering with talented business owners and management teams in the lower middle market. Since its founding in 1997, Prairie has completed more than 90 platform investments, representing over $1 billion in invested capital. Prairie is currently investing from its sixth fund, the $350 million, Prairie Capital VI, L.P. For more information, please visit http://www.prairie-capital.com.
Media Contact
Abby Sandbach, ADC, 720-341-6354, abby.sandbach@applieddatacorp.com
SOURCE ADC
