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FT Partners Advises AvidXchange in its Acquisition of Strongroom

FT Partners Advises AvidXchange in its Acquisition of Strongroom

Overview of Transaction

  • On May 19, 2015, AvidXchange, Inc. announced that it had agreed to acquire Strongroom Solutions
  • Strongroom provides payables lockbox and integrated accounts payable (AP) solutions for Home Owner Associations (HOAs)
  • AvidXchange is a leading provider of AP management software and payment automation solutions

Significance of Transaction

  • The transaction will provide a complementary AP and payments product, as well as reinforce AvidXchange’s role as a leading innovator in automating the AP process and streamlining business-to-business payments
  • In addition, the acquisition provides the opportunity for AvidXchange to deliver products through financial institutions as part of a comprehensive AP and treasury management solution
  • AvidXchange will leverage Strongroom’s market expertise in the HOA vertical to both strengthen its position in the marketplace and to expand into new markets

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to AvidXchange and its Board of Directors
  • FT Partners leveraged its deep knowledge and extensive industry experience to evaluate this opportunity
  • Transaction demonstrates FT Partners' continued success advising top-tier Financial Technology companies