Progress Partners Advises ThinkTime on Its Sale to StoreForce
ThinkTime joins Accel-KKR's retail technology platform StoreForce to accelerate growth and better serve global customers.
NEW YORK, August 1, 2023 (Newswire.com) - Progress Partners, a full-service merchant bank providing M&A, capital raise and advisory expertise for emerging technology and media companies, is pleased to announce that it served as the exclusive advisor to ThinkTime Inc. on its sale to StoreForce Solutions, Inc., a portfolio company of Accel-KKR, a technology-focused investment firm with $19 billion in cumulative capital commitments.
ThinkTime is an exceptional fit with AKKR's retail technology platform, StoreForce, in terms of size, focus and business model. In the spirit of building value for the digital future, Progress Partners' strategic involvement in the transaction provides ThinkTime the means to accelerate growth of mission-critical, retail-focused software solutions and technology-enabled services to continue delivering differentiated products and unique value to global customers.
Progress Partners' lead Managing Director, Parag Sheth, acted as the exclusive M&A financial advisor to ThinkTime.
"Having Progress Partners' team and industry expertise in our corner was a tremendous asset to us throughout the process. Right from the start, they recognized and appreciated the true value of our business," said Joel Livet, ThinkTime's Chief Executive Officer. He added, "They worked tirelessly, were thorough and guided us throughout the process. The team was genuinely committed to the best outcome and their extensive network realized that value."
Parag Sheth commented, "We applaud ThinkTime's focus on solving one of retail's toughest challenges and their continued growth this year." He added, "We are thrilled to have partnered with Joel and the ThinkTime team and congratulate them on their success and finding a strategic home in StoreForce."
ThinkTime is a leading cloud-based task management and associate communication platform which enables some of the world's largest retail brands to organize work for their associates across locations, languages and cultures worldwide. ThinkTime provides Leadership with the ability to distribute communications and tasks, measure real-time results and provide instantaneous support via our best-in-class intuitive user interface. ThinkTime future-proofs global retail in an omnichannel world. Visit thinktime.com to learn more.
StoreForce has been helping Specialty Retailers around the world exceed sales performance goals and deliver exceptional customer experiences since 2010. StoreForce is a sales performance platform, underpinned by a Specialty Retail workforce management system. It is called "wfm+", where the "+" represents a focus on positive sales growth and consistent delivery of the brand in your brick-and-mortar stores. This approach is entirely unique to StoreForce, and it is why the "+" also represents a foundational shift from the way traditional wfms approach labor planning in Specialty Retail.
At StoreForce, we consider ourselves Retailers first, and technology vendors second. We are extremely passionate about retail and helping our clients thrive. Customer service and engagement is at the forefront of everything we do. We have the luxury of designing a platform specific to the needs of the Specialty Retail market, working with our clients to continually enhance our solutions, and not compromising on functionality to serve multiple verticals. For more information, visit storeforcesolutions.com.
About Progress Partners
Progress Partners is a full-service merchant bank providing M&A, capital raise and strategic growth expertise for emerging technology and media companies since 2002. As part of the next category of investment banking, Progress Partners are genuine experts who work with entrepreneurial leaders to realize superior value. Securities offered by FNEX Capital, LLC, member of FINRA and SIPC. For more information about Progress Partners' exemplary services in investment banking, advisory and venture capital, please visit progresspartners.com.
Source: Progress Partners