Buyers Edge Platform, a specialist in digital procurement solutions for the foodservice industry, has secured a $425m preferred equity investment from a consortium led by General Atlantic (GA) Credit’s Atlantic Park fund.
Other participants include funds managed by Blackstone Tactical Opportunities and investment funds managed by Morgan Stanley (MS) Tactical Value.
Buyers Edge Platform intends to leverage the new funds and partnership with GA Credit, Blackstone, and MS Tactical Value, to support the execution of its growth initiatives, including platform innovation, strategic M&A and European expansion.
As part of the transaction, Bregal Sagemount, Buyers Edge Platform’s first institutional investor, will exit its minority stake in the business, and John Davie, Founder and CEO of Buyers Edge Platform, will increase his majority stake. Matthew Bonanno, Managing Director at GA Credit, will also join Buyers Edge Platform’s board of directors.
Financial terms of the deal have not been disclosed.
JP Morgan Securities and William Blair & Company served as placement agents to Buyers Edge Platform.
