Setforth, an investor specialising in mission-critical, vertical market software businesses, has successfully acquired Fitfactory, a prominent supplier of software solutions catering to the high value manufacturing and engineering sectors. This strategic acquisition will propel Fitfactory’s growth and innovation plans, backed by the extensive support and resources of Setforth.
Fitfactory will retain its brand name and preserve its unique culture and vision. Setforth aims to drive the company’s progress by providing strategic guidance and investment to scale its operations and expand its market reach. Fitfactory’s customers can expect an even higher level of service and an expanded product portfolio as a result of this acquisition.
Adrienne Gormley, CEO at Setforth, expressed delight in announcing the investment and warmly welcomed the Fitfactory team into the Setforth family. Recognising Fitfactory’s exceptional innovation and strong growth trajectory, Gormley expressed confidence in supporting CEO Jason Pritchard and his management team to propel the business forward.
Fitfactory’s existing management, led by CEO Jason Pritchard, will continue to lead the company, building upon the solid foundation established by founders Tom Dawes and Tony Guo. This seamless transition ensures continuity and stability within Fitfactory’s operations.
Tom Dawes, Founder of Fitfactory, and Jason Pritchard, CEO at Fitfactory, viewed the acquisition as a significant milestone for the company. Joining forces with Setforth positions Fitfactory for remarkable growth opportunities. Leveraging Setforth’s strategic expertise and support, Fitfactory intends to accelerate its growth plans, expand its product offerings, and deliver even greater value to its customers.
Fitfactory, headquartered in Stockton-on-Tees, has made a name for itself as a leading supplier of modular MRP, ERP, and MES solutions that drive digital transformation within the manufacturing and engineering sectors. With in-depth industry knowledge and top-notch products, Fitfactory currently serves over 300 businesses and 400 factories worldwide.
Setforth received legal advice from CMS, while 8Advisory provided assistance in financial due diligence and tax matters. Xaeus Blue offered technological expertise, and South Main Consulting supported with commercial due diligence. Fitfactory sought legal advice from Brabners and received CF advisory services from Ballard Evans.