PROVIDENCE-STRATEGIC
9.9.2019 11:32:07 CEST | Business Wire | Press release
Providence Strategic Growth (“PSG”), the growth equity affiliate of Providence Equity Partners (“Providence”), today announced an investment in MAPAL Software (“MAPAL”), Spain’s leading developer and supplier of management and business analytics software for the restaurant and retail sectors. Financial terms were not disclosed.
PSG’s investment reflects the firm’s confidence in MAPAL, the competitive edge of its flagship GIRnet software, and the company’s strong growth potential as it continues to provide restaurant operators with the most advanced and user-friendly back office and business analytics solution. MAPAL’s growth strategy, which is expected to be driven by strategic acquisitions across key geographies in Europe, Latin America and the USA, will be geared towards streamlining and optimizing clients’ business operations.
Jorge Lurueña, Founder and CEO of MAPAL, said: “We are a valued company in the restaurant sector due to our deep understanding of clients’ needs, the quality of service that our consultants provide and the profitability that our clients see once they implement GIRnet, our software solution. The whole team at MAPAL is excited for this new chapter in conjunction with PSG – a leading investment partner with broad experience in the software industry and a history of supporting companies in their international growth and development – as we consolidate our positioning in the restaurant market and provide clients with solutions that will help them fully automate the management of back office functions.”
Edward Hughes, Managing Director of PSG, said: “Jorge and his entire team have created an extraordinary platform in just over 10 years and we believe the company is well-positioned to capture greater market share globally, as well as engage next-generation technologies to improve clients’ businesses. We are delighted to partner with MAPAL as it enters this next phase of growth.”
MAPAL’s founding and current management team, led by Jorge Lurueña, will continue overseeing the company’s day-to-day operations. MAPAL and its management were advised by Deloitte Financial Advisory and Baker McKenzie.
About Providence Strategic Growth Capital Partners LLC
Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 180 companies and is a leading equity investment firm focused on the media, communications, education and information industries. PSG is headquartered in Boston, MA, while Providence has offices in Providence, New York and London. For more information on PSG, please visit www.provequity.com/private-equity/psg , and for more information on Providence, please visit www.provequity.com .
About MAPAL Software
MAPAL was founded in 2008 by Jorge Lurueña, an experienced restaurant operator, who recognised that restaurant businesses needed specialist tools to automate and optimise management processes. Bringing together industry experts, data scientists and software developers to create GIRnet, the management and business intelligence platform that key players in the sector use today, has driven MAPAL’s success. MAPAL boasts a large portfolio of clients operating well-known brands such as La Tagliatella, Burger King, Starbucks, KFC, Taco Bell, Pizza Hut, Grupo Areas or Five Guys, among others.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190909005385/en/
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