The merger combines NewBold’s expertise in payment device management with Spencer’s deep-rooted logistics and field technician network. By integrating their operations, the companies aim to offer a unified platform for technology procurement, deployment, and maintenance. The combined entity will leverage a sprawling network of W2 employees and certified contractors to support clients across the retail, grocery, and warehousing industries.
NewBold Technologies Expands Retail Footprint With Spencer Acquisition
Greenville-based NewBold Technologies has finalized its acquisition of Spencer Technologies, merging two major players in the retail and restaurant service sector. The deal creates a North American powerhouse capable of managing everything from point-of-sale systems to complex lifecycle planning for big-box retailers and quick-service brands.
Johan Claassen, CEO of NewBold, noted that the acquisition provides the scale necessary to compete at the top of the managed services industry. Spencer Technologies, which boasts a 97% on-time delivery rate and handles over 500 field jobs daily, brings five decades of market experience to the partnership. David Strickler, CEO of Spencer, will remain with the business in a consulting role to ensure a smooth transition of the firm's long-standing enterprise relationships. Michael Duffy, Principal at Fort Point Capital, described the move as a natural extension of NewBold’s core practice, positioning the firm to handle the entire lifecycle of store technology for its clients.
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