ProfitSystems acquires EasyChair
Deal strengthens position with smaller independents
Gary Evans -- Furniture Today, December 14, 2007
COLORADO SPRINGS, Colo.—Retail technology vendor ProfitSystems Inc. has acquired EasyChair Software, strengthening its position as a major software supplier to smaller independent retailers as well as Top 100 clients.
A purchase price was not disclosed.
The purchase was by the Riverside Co., which owns 80% of ProfitSystems, with the other 20% owned by the Employee Owner’s Group, which includes 18 ProfitSystems staff members invested through a stock ownership program. EasyChair was previously owned by RCM Holdings, headed by Rod Merry. Merry will be aiding with the transition for an unspecified amount of time.
EasyChair serves smaller independent dealers, an approach that fits in well with ProfitSystem’s emphasis on independents, said Jeff Niskern, president of ProfitSystems.
“Our focus is on independent retailers and a lot of our programs are designed around helping independent retailers,” Niskern said. “They’re our bread-and-butter, our life’s blood. When they do well, we do well.”
EasyChair has 152 dealers with 800 stores. The combined companies will serve about 1,000 dealers with more than 3,000 stores, Niskern said. Combined revenues will be between $8 million and $9 million.
Niskern said ProfitSystems has a strong portfolio of product and systems in place and is large enough “to absorb the ebbs and flows and demands” of expansion. “So it was just a natural that we would go out and look for a company that was maybe struggling, and take the clients and offer them the benefits of partnering up with the big guy in the industry. We can offer better support and we can offer access to programs like freight. And what benefits them, benefits us. So it’s a win-win.”
ProfitSystems will continue to support EasyChair products and will do so “as long as people feel like it is the proper solution for their business,” Niskern said.
Jeff Goodman, operating partner for The Riverside Co., said the $2 billion private equity investment firm “is very excited about ProfitSystems’ acquisition of Easy Chair Software and what it means for the future of both companies and their clients. EasyChair Software clients now have access to an even wider portfolio of products and solutions to help them grow their business and improve profitability.”
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