365 Retail Markets Partners with McCarthy Capital to Accelerate Growth
TROY, MI— August 17, 2016 — 365 Retail Markets (“365” or the “Company”), the global leader in MicroMarket technology – offering a best in class point-of-sale platform for the vending, foodservice and hospitality industries – announced today that it partnered with McCarthy Capital Fund VI (“McCarthy Capital”) to continue its rapid global expansion. McCarthy Capital manages more than $1 billion of investment capital across its portfolio and specializes in growing businesses in partnership with management teams.
365 has experienced significant growth since 2008 and is well positioned to grow over the next five years. The investment will support 365’s plan to increase marketshare, introduce state of the art technology, and expand globally.
“As the pioneer in the MicroMarket industry, we take great pride in what the team at 365 has created. McCarthy Capital is a natural fit because of their partnership philosophy and our mutual desire to continue to innovate while providing the highest level of customer service in the marketplace.” said Joe Hessling, Founder and CEO of 365 Retail Markets. “I am especially excited about the opportunity to bring new products to market and drive the company to higher heights.”
“365 has played a leading role in the rapid adoption of MicroMarkets. The Company’s focus on technology and customer service enables vending and foodservice operators to provide a better customer experience, improve operations, and increase profits,” said Chase Meyer, Vice President of McCarthy Capital. “We are excited to partner with Joe and his team as they continue to provide innovative technology solutions to the foodservice industry.”
Based in Troy, MI with offices in Santa Clara, CA and Provo, UT, 365 has been driving innovation in foodservice and vending with its proprietary in-house design and development of point-of-sale hardware, software, and mobile technologies for the workplace.
365’s investment in cultivating talent to build a team of industry experts has bolstered the Company’s triple-digit growth in the past five years, empowering it to accept numerous professional awards and establish a foundation for future advancements and success.
“We are thrilled to partner with this experienced and committed management team led by Joe Hessling,” said Patrick Duffy, President and Managing Partner at McCarthy Capital. “We expect our experience in growing similar software businesses will help management further the Company’s industry-leading position.”
About McCarthy Capital
McCarthy Capital Fund VI is managed by McCarthy Partners Management, LLC, an affiliated RIA of McCarthy Capital. McCarthy Capital, headquartered in Omaha, NE, is focused exclusively on lower middle-market companies. For 30 years, the McCarthy organization has been partnering with founders, families, and exceptional management teams to support the growth of their companies. For more information about McCarthy Capital, please visit www.mccarthycapital.com.
About 365 Retail Markets
365 Retail Markets, a rapidly growing, self-checkout technology company with offices in Metro Detroit, Santa Clara, and Provo, offers the best in class point-of-sale platform for use in the workplace. Its proprietary technology provides a turnkey platform that allows customers to increase sales, improve the customer experience, and increase profits while decreasing operating costs. 365 Retail Markets has been pioneering innovation in the food service, hospitality, and vending industries since 2008 and continues to revolutionize the market with superior technology and ultimate flexibility in customization and branding. 365 has won many awards for their innovation and growth, including being named to the Inc. 5000 list of the fastest-growing private companies in the U.S. two years in a row.
Teri Mercer, McCarthy Capital Investor Relations
Jen Tonio, 365 Retail Markets