FMS Solutions Acquires Retail Accounting Divisions from C&S Wholesale Grocers

FMS Solutions (New Heritage Capital Portfolio) Acquires Retail Financial Services

September 14, 2022

Accounting & Tax

FMS Solutions, a New Heritage Capital portfolio company, has acquired Retail Financial Services (RFS), a provider of accounting, tax preparation and tax planning services for independent grocers and multi-site retailers. The transaction is FMS' third add-on since partnering with New Heritage and expands FMS' tax and planning capabilities within its tech-enabled and SaaS-based suite for multi-site retailers.

FMS Solutions Acquires Merchants Accounting Services and AMP Services

August 15, 2025

Accounting & Tax

FMS Solutions, a New Heritage Capital portfolio company, has acquired Merchants Accounting Services (MAS) and AMP Services (AMP) to expand into the restaurant accounting vertical. The transactions are add-on acquisitions that broaden FMS's tech-enabled and SaaS-based managed accounting and advisory offerings for multi-site restaurants and hospitality customers.

New Heritage Capital Invests in FMS Solutions

February 18, 2021

Cloud & SaaS

Boston-based private equity firm New Heritage Capital made a platform investment in FMS Solutions, a SaaS-based BPO provider serving independent grocers, using Heritage's Private IPO structure that lets FMS management retain operating control. The capital provides liquidity to founders and financial flexibility to accelerate growth of FMS' accounting, payroll and retail-oriented software and services.

FMS Solutions Acquires GOT Systems

July 14, 2021

Cloud & SaaS

FMS Solutions, a New Heritage Capital portfolio company, acquired GOT Systems, a provider of SaaS-based product ordering, shrink and markdown tracking and grind log services for U.S. grocers. The transaction is an add-on acquisition that expands FMS's suite of tech-enabled and SaaS solutions for multi-site retailers.

Group Management Services Acquires Corporate Business Solutions

June 19, 2020

Staffing & HR

Group Management Services Inc. (GMS) has acquired Corporate Business Solutions (CBS), a Georgia-based human resources outsourcing provider. The deal adds about 70 clients and approximately 3,500 worksite employees to GMS and expands GMS’s presence in the Southeast United States.

MFG Partners and Merit Capital Partners Acquire Storage Solutions, Inc.

December 3, 2020

Industrial Services

MFG Partners, in partnership with Merit Capital Partners and Storage Solutions' management team, has completed an acquisition of Storage Solutions, Inc., a Westfield, Indiana-based material handling and industrial storage systems integrator. The transaction transitions the company from an ESOP structure and positions Storage Solutions to expand its service lines and capitalize on growth in e-commerce and warehouse demand.