Firmament Invests in Scanco Software

News provided by

Jun 06, 2023, 08:25 ET

Firmament Backs Scanco to Drive Growth and Innovation in Warehouse and Manufacturing Automation Solutions

NEW YORK, June 6, 2023 /PRNewswire/ -- Firmament, a provider of structured equity capital solutions to small and medium-sized enterprises, announced today its acquisition of Scanco Software, LLC ("Scanco"), one of the leading providers of innovative software solutions for the manufacturing and distribution industries. Firmament is an established investor in software and services providers in the supply chain sector. The transaction is a significant milestone for Scanco, as Firmament's backing will pave the way for Scanco to grow and expand its suite of warehouse and manufacturing automation solutions.

Scanco's clients and employees alike will benefit from the strategic investment as Firmament is excited to invest in Scanco's future growth by supporting product innovation and strategic acquisitions. Furthermore, Scanco will continue to focus on prioritizing client satisfaction and improving the customer experience. Scanco's goal is to maintain and strengthen its market position as one of the leading technology providers within the warehousing and manufacturing automation industry. The executive management team at Scanco will remain in place, including President and CEO Andrew Nunez.

Andrew Nunez stated, "We are thrilled to join forces with Firmament as we embark on this new chapter. This acquisition marks a significant milestone in the evolution of our company. With Firmament's backing, we can access additional capital to support our growth plans and reinvest in our company."

Ted Wong, Principal at Firmament stated, "Scanco is committed to offering market-leading software and services that enable its small- to-medium-sized customers to optimize their operations. We are truly excited to support Scanco in its continued mission to be one of the leading technology providers in the warehouse and manufacturing automation industry. Through this transaction, Firmament is delighted to continue its investment activity in and support of the supply chain sector."

About Scanco: Over the years, Scanco (www.scanco.com) has been at the forefront of developing new technologies for mobile warehouse, manufacturing, and payment automation solutions. Scanco's solutions deliver unequaled efficiency and visibility for distribution and manufacturing companies around the globe.

About Firmament: Firmament (www.firmament.com) provides structured equity capital solutions to small- and medium-sized enterprises. Firmament is a value-added partner to entrepreneurs, management teams and business owners and curates solutions by deploying versatile capital in a user-friendly way. Firmament concentrates on software and services businesses with significant scaling potential in the healthcare, logistics, wellness and environmental sectors. With offices across the United States and in the United Kingdom, Firmament is focused on turning small business into big business.

Media Contact:
Allie Reitman
[email protected]

SOURCE Firmament