Announcement

Solarsoft

Solarsoft to acquire Progressive Solutions Incorporated – Acquisition will strengthen ERP vendor’s position in key vertical markets

FOR IMMEDIATE RELEASE

London, UK, 1st June 2012 – Solarsoft Business Systems (‘Solarsoft’) announced today that the shareholders and management of Progressive Solutions Incorporated (‘PSI’) have agreed to accept an offer from Solarsoft to acquire PSI.

PSI, which is privately held, provides specialist enterprise software for producers, manufacturers and distributers in the lumber and building materials supply chain. Since 1989, PSI has grown to become the leading supplier of management systems to saw mills, lumber yards and suppliers of construction materials in North America and the UK. With its proven expertise and class-leading products, bisTrack and lumberTrack, PSI has established an outstanding reputation for high quality service and customer satisfaction.

Commenting on the transaction, Shawn McMorran, chief executive of Solarsoft Business Systems, stated: “I am delighted to be able to make this announcement because PSI is a great business and an excellent fit with Solarsoft. This acquisition will add significant strength to our offering for distribution and wholesale customers. Furthermore, it brings to Solarsoft a talented and successful team with deep vertical market expertise and a commitment to excellence in customer service. PSI’s customers will benefit from being supported by a larger organisation with international operations. We see a bright future together.”

“We believe that the combination with Solarsoft will provide fresh momentum to the ongoing development of PSI’s products and services for the benefit of customers, suppliers and employees,” said Len Williams, president, CEO and founder of PSI.

Andy Hovancik, chief operating officer at Solarsoft added: “Solarsoft has an established position in distribution and wholesale systems in the UK and Ireland. Bringing PSI’s market-leading applications into Solarsoft will allow us to accelerate our strategic expansion in the lumber and wood products sector. Together, we will continue to develop the outstanding reputation that PSI has built for product innovation, expertise and customer service.”

Solarsoft is backed by Marlin Equity Partners, a leading private equity investment firm with over US$1 billion of capital under management.

About Solarsoft Business Systems

Solarsoft provides modern enterprise software and IT services to manufacturers, distributors and wholesale businesses in North America, Europe and Asia. The company has grown organically and through acquisition since 1986 and employs more than 450 people providing local support across 16 time zones. More than 2,500 companies rely on Solarsoft to bring clarity and efficiency to their daily operations. Worldwide revenues when combined with PSI will be in the order of US$100 million.

For more information about Solarsoft please visit www.solarsoft.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Solarsoft Business Systems  
Alison Smith (EMEA) Tanja Boesche (North America)
T: +44 (0)8447 700 900 ext. 5519 T: +1 (604) 685-4209
E: alison.smith@solarsoft.com E: tanja.boesche@solarsoft.com
   
Progressive Solutions Incorporated  
Len Williams, President and Chief Executive Officer  
T: +1 (604) 214 8750 or +44 (0)1928 593377  
E: len.williams@progressive-solutions.com  

 

Testimonials

  • "With bisTrack we have cut our costs while increasing the speed and quality of service to our customers."

    John Steinman
    VP of Purchasing and IT Services, Forge Lumber

  • "We were up 5 points of margin within ten months using bisTrack™ pricing management and margin review. The payback happened in just months."

    Brian King
    President of Construction Supply

  • "Since our conversion to bisTrack we have seen big pluses with purchasing and costing accuracy which have definitely contributed to the bottom line."

    Brad White
    President of White's Lumber

  • "We know these are the kind of people we want to partner with long-term, with the vision and values that are critical to a mutually successful relationship."

    David Jones
    President of Brookside Lumber

  • "We’ve fixed problems, eliminated data re-entry and repurposed valuable employees. bisTrack helped us be more productive with fewer people."

    Candy Loweke
    Process Analyst, Raymond Building Supply

  • "We used to go blind on what our costs were. Now we can audit every single job in millwork, see what our waste is and know what things are really costing us."

    Lan McIlvain
    Alan McIlvain Company

  • "We were looking for software we could grow with. lumberTrack and Great Plains are going to give us the ability to dig down and get the reporting data we need to make our decisions. They have streamlined our workflow and the general ledger."

    Sherry Sabbatini
    Deer Park Lumber

  • "I think highly of the people at Progressive Solutions. They have a professional approach, they understand the lumber business, and they meet their commitments."

    Joe Kusar
    Vice President & General Manager of Tolleson Lumber Co

  • "lumberTrack’s™ business logic is rock solid. It’s a very configurable system and Progressive Solutions, as a business partner has been awesome."

    Mike Beye
    Chief Value Officer of Vaagen Bros. Lumber Co