Growth-focused software investor Setforth acquires Fitfactory
23 August 2023
Setforth has acquired Fitfactory, software solutions supplier to the high value manufacturing and engineering sectors. The acquisition enables Fitfactory to accelerate its growth and innovation plans, with the full support and resources of Setforth.
Fitfactory will continue to operate under its current brand name and preserve its culture and vision. Setforth plans to drive Fitfactory’s business forward, through providing strategic guidance and investment, to scale Fitfactory’s operations and expand its market reach. Fitfactory’s customers will benefit from enhanced service and product offerings.
"We're delighted to announce this investment and to welcome the Fitfactory team to the Setforth family. Fitfactory has consistently demonstrated exceptional innovation and strong growth, with an impressive and loyal customer base. We look forward to supporting Jason and the management team as we drive the business forward together," says Adrienne Gormley, CEO at Setforth.
Fitfactory's existing management team, led by CEO Jason Pritchard, will continue to lead the business and build upon the strong foundation established by founders Tom Dawes and Tony Guo. This continuity will ensure a seamless transition.
“This acquisition marks a significant milestone for Fitfactory. In joining forces with Setforth, we are poised to take our company to new heights. Setforth's deep strategic knowledge and support will enable us to accelerate our growth plans, expand our product offerings, and deliver even greater value to our customers,” explains Tom Dawes, Founder of Fitfactory and Jason Pritchard, CEO at Fitfactory.
Fitfactory, headquartered in Stockton-on-Tees, has established itself as a leading supplier of modular MRP, ERP and MES solutions that drive digital transformation within manufacturing and engineering. With its deep industry knowledge and best-in-class products, Fitfactory currently supports more than 300 businesses and 400 factories across the globe.
Setforth was advised by CMS (Legal), 8Advisory (FDD & Tax), Xaeus Blue (Tech) and South Main Consulting (CDD). Fitfactory was advised by Brabners (Legal) and Ballard Evans (CF Advisory).
More information on Setforth here. More on Fitfactory here.
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