The strategic acquisition by LBMX brings together two firms focused on helping independent businesses prosper
London-based LBMX Inc., a tech platform that facilitates group buying for independent businesses across a range of sectors, announced Monday that it has acquired Buying Group Services (BGS), another London-based firm, in an all-shares transaction effective January 1, 2022.
According to a release from LBMX, the strategic acquisition brings together two firms focused on helping independent businesses prosper in a rapidly changing business environment. LBMX is the leading technology provider focused on buying groups, GPO’s and purchasing coops, and BGS is a leading firm providing managed services to similar organizations.
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The acquisition will make it possible for LBMX to grow their expertise in managed services and offer additional solutions to their group customers. In addition, the acquisition will position LBMX to provide services such as central payments and the enrichment of PIM data to independents and suppliers who use their cutting-edge, open marketplace platform.
“Both firms share a similar passion in helping independent businesses thrive, using a technologically driven approach,” says Greg Dinsdale, president and CEO of LBMX Inc. “We are excited to welcome BGS’ current group of buying groups and purchasing cooperatives to our family of independents. Coming together results in a larger company, which provides the complete solution and creates an unparalleled trading ecosystem for independents, their suppliers and buying groups alike.”
Founded in 2009, Buying Group Services will add a managed serviced component to LBMX’s portfolio of EDI, PIM and e-commerce solutions.
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“This arrangement means LBMX will become the dominant force in providing platform solutions for independents engaging with their supplier base and provide our current buying groups with a further technological advantage for use in their operations,” says Morgan Williston, COO of BGS. “The combined company will have a presence in most verticals with emphasis in HVAC, electrical, plumbing, building materials, window and door and food-service equipment, all of which will benefit from the deeper integration our combined company can provide. We are excited that our team can contribute to this vision.”