SFW Capital Partners has made an undisclosed investment in DaySmart Software. The PE firm is partnering with the target’s co-founders Mark Jackson and Chris Jackson on the deal.
DaySmart based in Wixom, Michigan and founded in 1999, provides management software to small and mid-sized consumer businesses, including spas and salons. The company’s products help businesses with appointment and employee scheduling, payroll, and inventory management. DaySmart says it will use the investment from SFW to develop products and enter new markets.
SFW is a Rye, New York-based mid-market PE firm that typically invests between $10 million and $75 million in companies, mainly in analytics and business services. In 2015, SFW closed a $345 million fund. The PE firm says DaySmart “fits perfectly with SFW’s investment focus on businesses that offer critical worklow.”
Retail data and software companies have been receiving robust buyer interest. For example, Blackstone Group LP (NYSE: BX) and New Mountain Capital have agreed to invest in JDA Software Group, which develops data software that allows retailers to manage inventory and logistics; HGGC has acquired online marketing research company Instantly; and StellaService is acquiring ICC Decision Services, a designer of in-store customer experience management program.