Liberty is pleased to announce the secondary Buyout of Fourth backed by Insight Venture Partners.
Fourth is the world’s leading provider of cloud-based cost control solutions to the hospitality industry - solutions that give customers complete control of their spending in all the key business areas including labour, inventory, purchase-to-pay, HR and payroll.
Fourth works with a number of leading hospitality firms such as CenterParcs, Eataly, Fuller’s, Hilton, Hyatt, Pizza Express, Soho House, Wagamama and Zuma. Its systems now operate as integral part of leisure businesses in more than 50 countries, supported by seven Fourth business centres around the world.
ECI Partners backed the management team in a primary buyout in 2011, and since then the company has realised strong organic growth, along with acquisitions of Adaco Inc in 2012 and Team Hours in 2013.
Liberty provided advice to the management team, led by Ben Hood CEO.
Ben Hood, Chief Executive Officer at Fourth, said:
“It has been a very exciting stage of the Fourth journey with ECI supporting the team and its vision. We look forward to an exciting future given Insight Venture Partner’s international software growth expertise. We could not be happier to partner with Insight and we are confident in their support of Fourth in our next stage of growth. Liberty delivered a great outcome for management and by running the management discussions efficiently and with sensitivity they ensured deliverability and certainty on the transaction for all parties.”
Ross Devor, Partner at Insight Venture Partners commented:
"Fourth is on a remarkable growth trajectory, delivering market-leading SaaS (software as a service) solutions focused on the hospitality industry’s most important cost drivers. We believe Fourth has an enormous opportunity ahead and we are excited to support the company’s vision to build a leading global business."