Progressive Solutions, a leading provider of enterprise resource planning (ERP) software for producers, manufacturers and distributers in the lumber and building materials industry, has announced an agreement to be purchased by Solarsoft Business Systems, a London-based information technology firm. The terms of the deal were not disclosed.
Based in Vancouver, B.C., the privately held Progressive Solutions serves primarily sawmills, lumberyards and suppliers of building materials in North America and the U.K. with its bisTrack and lumberTrack software products.
Shawn McMorran, chief executive of Solarsoft Business Systems, said: "PSI is a great business and an excellent fit with Solarsoft. This acquisition will add significant strength to our offering for distribution and wholesale customers.”
Andy Hovancik, chief operating officer at Solarsoft, added: "Solarsoft has an established position in distribution and wholesale systems in the U.K. and Ireland. PSI's strength in North America and in the specialist needs of the lumber and wood products sector are complementary to that. Bringing PSI's market-leading applications into Solarsoft will allow us to accelerate our strategic expansion in this sector.”
Solarsoft Business Systems offers ERP software and IT services to manufacturers, distributors and wholesale businesses in North America, Europe and Asia. The company has grown organically and through acquisition since 1986 and employs more than 450 people and serves more than 2,500 companies. Worldwide revenues when combined with PSI will be in the order of $100 million. Solarsoft is backed by Marlin Equity Partners, an independent investment firm with more than $1billion of institutional assets under management.