To boost its global expansion plans, Troy-based 365 Retail Markets, a company that offers point-of-sale hardware, software, and mobile technologies for the vending, food service, and hospitality industries, has partnered with Omaha, Neb.-based McCarthy Capital Fund VI. The amount of the investment was not disclosed.
As part of the partnership, McCarthy Capital will support 365 Retail Markets, which develops technology for micro markets — small food and convenience stores inside large office buildings — and its plan to increase its market share and introduce state-of-the-art technology.
“McCarthy Capital is a natural fit because of their partnership philosophy and our mutual desire to continue to innovate,” says Joe Hessling, founder and CEO of 365 Retail Markets. “I am especially excited about the opportunity to bring new products to market and drive the company to higher heights.”
He says 365 Retail Markets has experienced significant growth since it was founded in 2008 and is well positioned to grow over the next five years.
McCarthy Capital manages more than $1 billion of investment capital across its portfolio and specializes in growing businesses in partnership with management teams.
Click here to read more about Hessling and 365 Retail Markets in 2016 Champions of the New Economy from DBusiness magazine’s May/June 2016 issue.