Complementary Software Platforms Will Serve Common Customers and Expand ROI-Driven Solutions
BOISE, Idaho & CAPE CORAL, Fla.–(BUSINESS WIRE)–Meal Ticket and Trackmax today announced a strategic merger to combine their complementary solutions and expand their ROI-driven offerings. The merger is intended to accelerate growth and position the combined business as a leader in software and data analytics for the food service industry. The merger is supported by a majority investment from funds advised by PSG, a leading growth equity firm partnering with middle-market software and technology-enabled service companies. Financial terms were not disclosed.
Meal Ticket was founded in 2011 and Trackmax in 1996, both with the intention of providing critical technology solutions for businesses across the food service supply chain. Meal Ticket’s platform helps distributors and manufacturers enhance lead generation, strengthen customer relationships and increase sales via advanced workflow and data-driven insights. Trackmax’s contract and rebate management and business intelligence software enables its clients to increase vendor purchase and sales rebate income on existing sales, creating a return on investment, and driving overall bottom-line profitability. As a combined entity, Meal Ticket and Trackmax will offer a broader portfolio of solutions in addition to new, data-driven innovations that further extends its ROI and tangible impact.
Wink Jones, CEO of Meal Ticket, will serve as CEO of the combined business. Tom and Tim Rawson, Co-Founders of Trackmax, will transition out of their roles in the coming months, while working to ensure a seamless merger of the two companies. As part of the transaction, both firms will maintain their current teams and business operations and will continue to operate under their respective brands.
“We’re thrilled to provide the food service industry with a holistic suite of technology solutions. Our platforms are truly complementary, serving the same customer base, and together, we will provide the industry with a fully comprehensive and powerful solution, building on the momentum of both brands,” said Jones. “Our collective team and I thank Tom and Tim for the excellent platform they developed over the last twenty-four years and look forward to working closely with the Trackmax team to ensure both businesses continue to operate seamlessly during this transition.”
“This is an important milestone for both of our businesses and our customers, as we have known of the Meal Ticket and Trackmax synergies for many years. I am fully confident that our success will only be strengthened by working together, as we are completely aligned from our current value propositions to our cultures and our strategic vision for the future of the industry,” said Tom Rawson. “The company is in excellent hands with Wink, and I am excited for our customers and team to benefit from the opportunities that lie ahead of them.”
“The Meal Ticket and Trackmax teams have built outstanding ROI-focused businesses within the food service ecosystem, and we are excited to partner with them for the next phase of growth,” said John Marquis, Managing Director at PSG. “We feel the combined business is well positioned to solve critical data visibility challenges within the foodservice ecosystem, providing customers access to an end-to-end workflow and data visibility platform to optimize performance.”
About Meal Ticket
Meal Ticket is a leading software provider in the food service supply chain, delivering a suite of SaaS tools to provide distributors and manufacturers visibility into critical market data. The company’s solutions enable its clients to shift from legacy analog systems to a fully automated, software-driven solution, resulting in better account penetration, more strategic vendor relationships and overall higher margins.
Meal Ticket was founded in 2011 and is headquartered in Boise, Idaho, with offices in Colorado and Florida. For more information, visit www.mealticket.com.
Trackmax is a leader in profit improvement software solutions, specializing in the development of transaction-based tracking, forecasting and analytical software for wholesale distributors. Its flagship software platforms focus on optimizing and increasing profitability.
Trackmax was founded in 1997 and is based in Cape Coral, Florida. For more information on Trackmax, visit the company’s website at www.trackmax.com.
PSG is a growth equity firm that partners with lower middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 60 companies and facilitated over 250 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London.
Catherine Johnson / Jackie Schofield
Prosek Partners (on behalf of PSG)