New Heritage Capital Portfolio Company Makes Substantial New Market Entry into the Restaurant Accounting Vertical

FMS Solutions (“FMS”), a New Heritage Capital (“Heritage”) portfolio company, announced it has made a substantial new market entry into the restaurant accounting vertical via the acquisitions of Merchants Accounting Services, Inc. (“MAS”) and AMP Services, LLC (“AMP”). MAS and AMP both provide accounting and consulting services to multi-site restaurants and hospitality customers.

The acquisitions represent the fourth and fifth add-ons for FMS since partnering with Heritage. Acquiring MAS and AMP adds a new end-market vertical to FMS, enabling FMS to expand its service offerings to multi-site restaurant and hospitality customers.

“We are thrilled to be partnering with the MAS and AMP teams,” said Bob Graybill, CEO of FMS. “These acquisitions allow us to continue to offer our complete suite of tech-enabled and SaaS-based solutions to an exciting new end market where we think our customer-forward, tech-enabled approach can help solve some of the business needs that restaurant companies face daily. MAS and AMP have provided excellent service to their restaurant customers for many years, and we are excited to expand the awareness of these great service providers and build upon that reputation.”

“The leadership groups at MAS and AMP are excited to announce the partnership with FMS,” added Ashley Campbell, COO of AMP and the new Head of FMS Restaurants. “With FMS’ reach and resources, we look forward to continuing to grow our businesses and offering an even more personalized service to our restaurant customers.”

Melissa Barry, a Partner at New Heritage Capital, continued, “Entering into new market verticals is an exciting next step in the evolution of FMS and, alongside our existing offerings to multi-site retailers and independent grocery stores, will allow us to continue our growth trajectory. I’m really looking forward to seeing what these teams can do together.”

FMS continues to actively seek acquisitions that would complement its suite of tech-enabled and SaaS-based solutions for independent grocers, hardware stores, and multi-site restaurants, and retailers.

About FMS Solutions

Since 1974, FMS has provided comprehensive BPO services to independent grocers, multi-site restaurants, and retailers across the U.S., Canada and Caribbean. FMS’ experienced, customer-oriented staff help businesses succeed by transforming historic accounting and payroll activities into timely, accurate decision support tools. For more information, please visit: www.fmssolutions.com.

About New Heritage Capital

New Heritage Capital is a Boston-based private equity firm with a twenty-year history of partnering with growing, middle market, founder-owned businesses. With its innovative investment structures like the Private IPO®, Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. With decades of experience at managing growth, Heritage gives its partners the strategic, operational and financial guidance to help its companies reach their growth objectives. For more information, please visit: www.newheritagecapital.com.

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