Solarsoft Business Systems, a British enterprise software and IT service provider, announced that Progressive Solutions’ (PSI) management and shareholders accepted the company’s acquisition offer, according to a press release on Progressive Solutions' website. The deal closed on May 31 and terms of the deal were not disclosed.
PSI offers specialist enterprise software for companies in the lumber and building material supply industry, including distributors and manufacturers. It is privately held.
“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, PSI’s founder and CEO.
Solarsoft is backed by Marlin Equity Partners, a private equity investment firm with more than $1 billion in capital under its management. The company provides software and IT services to manufacturers, distributors, and wholesale businesses throughout North American, Europe, and Asia.