Anania & Associates Announces Sale of Synergistic Software Solutions to ScanCo Software
Peter V. Anania, Chairman of Anania & Associates Investment Company (AAI), today announced that Synergistic Software Solutions LLC, a portfolio company of AAI and developer of JobOps, has been sold to Scanco Software LLC. Scanco is a leading provider of supply chain automation software and services. Scanco recently purchased JOScan, scanning software that was developed to work exclusively with JobOps.
“JobOps is an outstanding management software suite for manufacturers. With Scanco’s acquisition, I have no doubt that the company and their products will continue the tremendous growth it has seen in the last three years while under the ownership of Anania & Associates,” said Mr. Anania.
In the three years that AAI has owned Synergistic, the company has increased its revenue by 50% and grown its profits tenfold. The software was enhanced to the point where SAGE bought the exclusive rights to have JobOps labeled as SAGE Manufacturing. Also under AAI ownership, Synergistic enhanced/developed new programs such as Field Service Dispatch and Purchase Agent.
Synergistic is located in Edina, Minnesota andthe company will continue to employ the same number of employees, though Scanco does plan to expand the company’s salesforce.
Scanco also plans to expand its portfolio into the mechanical trades market with Synergistic’s Field Service Dispatch software program, as well as to expand its current distribution market with Synergistic’s Purchase Agent software program.
The sale of Synergistic marks the second large divestiture of an AAI portfolio company this summer. In June, AAI portfolio company Grow-Tech LLC was acquired by Dümmen Orange, an international leader in the horticultural industry.
About Anania & Associates – A Maine-based Private Equity Firm
Anania & Associates Investment Company LLC (AAI) is a Maine-based and Maine-focused private equity firm that partners with management teams acquiring and building companies with a high potential for growth. Founded in 2008, the fund currently has 5 portfolio companies representing over 350 employees and $60 million in revenue. AAI is a long term, regional investor focused on supporting sustainable growth for Maine and its portfolio companies which include: Elmet Technologies LLC, Lighthouse Imaging LLC, MEGA Industries LLC, mWAVE Industries LLC and TrakTec LLC.