Prosperity Plus announced that STCR Business Systems, Inc. has been acquired by Mangrove Equity Partners. Prosperity Plus acted as an advisor to STCR throughout the transaction.
STCR is an Endwell, NY-based provider of best-in-class retail point-of-sale (POS) solutions to grocery retailers across the United States and the Caribbean. The company provides a single-source solution for its customers’ POS needs, offering a wide array of hardware products from industry-leading manufacturers Toshiba and LOC among others. STCR also offers enterprise software, implementation services, ongoing maintenance services and 24/7 help desk support
Mangrove Equity Partners, LP is a Tampa, FL-based lower middle-market private equity firm. Mangrove has a well-earned reputation as an effective, fair, flexible, and honorable partner to company owners and managers.
“I am excited about the potential created as we combine STCR’s market strength and reputation with Mangrove’s track record of growth,” said STCR’s president. “Bringing these entities together will create a great situation for our customers and employees, as well as for the industry as a whole.”
Hunter Reichert, Managing Director at Mangrove was equally positive in his viewpoint on the deal. “The STCR team has built an excellent company,” he said. “We are happy they chose Mangrove to help take it to the next level. We see a very bright future for all.”
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