Rose Street Partners, a long term-oriented investor in UK private companies, has acquired Fuelsoft, a software provider for the fuel distribution industry, marking the firm’s inaugural investment.
Based in Birmingham, Fuelsoft was founded by David Kingsman and John Allen in 1982, the former of whom will remain on Fuelsoft’s board of directors. Rose Street’s investment is intended to support product development, customer support and expansion of the company’s team.
Dan Skyte, Founder & CEO of Rose Street, commented: “We couldn’t be happier with Fuelsoft as our first investment. Our goal is to invest in niche, market leading businesses run by exceptional people and Fuelsoft fits that description perfectly. We are committed to preserving David and John’s legacy, and look forward to working alongside them, and Fuelsoft’s outstanding management team, to deliver the next phase of growth for the company and its loyal customer base.”
Kingsman added: “We are excited to partner with Rose Street as we embark on this new chapter. Their philosophy of long-term investment aligns perfectly with our own objectives, and it will enable Fuelsoft to further develop our products, empower our team, and provide the best possible service to our customers.”
Rose Street was founded last November by Skyte and is backed by a committed pool of permanent capital. The firm aims to invest in businesses on a long-term basis as opposed to selling within a few years, as per the private equity model.
