American Pacific brings industry leading IBM i experience and capital to fuel Fresche’s modernization capabilities as enterprises move into the digital age.
Montreal, Canada, December 15, 2020 – Fresche Solutions today announced it has been acquired by American Pacific Group, a private equity firm targeting investments across all industries with a focus on technology in North America.
Fresche is leading the global charge for companies that have decades of investment in legacy applications, especially those running on IBM Power Systems IBM i. The investment from American Pacific Group will fuel future growth and expansion for Fresche as the company continues to accelerate its mission to enable application modernization, transformation and digital innovation for global enterprises. In particular, American Pacific will help to expand Fresche’s offerings to allow clients to modernize applications and create a cloud-based future.
Former Fresche executive, Stephen Woodard, returns to Fresche stepping into the role of President and CEO to lead the company through its next stage of growth. Stephen brings more than 20 years of executive leadership experience and a deep understanding of the Fresche organization, its customer base and the IBM i market. Well known for his ability to steer companies into financial and operational success, Stephen brings a management style that is hands-on and engaging with clients, employees, business partners and shareholders.
Highlights of the Transaction
- American Pacific is the ideal partner for future investment, growth and global scalability of Fresche Solutions, with the industry expertise, global reach and financial resources that Fresche now requires.
- The transaction was facilitated by all existing Fresche shareholders. These entities were instrumental in making Fresche the success it is today.
- Fresche will continue to operate out of its headquarters in Montreal, Canada. It has always been and will continue to be a significant employer in the Montreal area and remains deeply committed to Fresche’s Quebecois roots.
“In all efforts, Fresche will continue to put its clients first – being manic about providing the best support and innovative solutions. There is massive potential on a global scale as organizations aggressively seek to modernize their applications and prepare for the next digital age. Fresche, with its depth of expertise, its people, technologies, extensive client base and deep relationship with strategic partners such as IBM, stands on the cusp of this innovation wave,” says incoming President and CEO, Stephen Woodard.
Former Fresche President and CEO Daniel Crépeau will remain with the organization to assist with the transition effort.
Woodard adds: “Daniel was instrumental in setting the company on a strategic path that has led to today’s acquisition and to position it for tremendous future success. I have been very impressed with Fresche’s performance during the pandemic and how the leadership team has steered the company through these challenging times. I am excited to be part of the next phase of growth at Fresche which will be a mix of organic and M&A initiatives”
Additional key executives returning to Fresche include former CFO Nick Cristiano, who is re-assuming his role as CFO, and John Clark, who will be filling the new position of CTO. Both of these executives bring extensive business experience, knowledge of the IBM i market, proven track records and familiarity with the Fresche organization.
Fraser Preston, Managing Partner at American Pacific Group, commented, “Fresche Solutions has huge potential and has built a great technology and service offering that provides customers a unique path to achieving their digital transformation goals. We look forward to supporting Fresche in building out new capabilities that further advance the cloud-based future for its global enterprise customers.”
About Fresche Solutions
Fresche is the leading provider of application modernization and management solutions that enable digital transformation for companies that rely on IBM i systems. Through the power of automated tools and experienced professionals, Fresche delivers innovative solutions that bring our clients the best, boldest ways to modernize and better manage their business and IT. Our professionals combine fresh thinking with technology and business expertise to help fuel transformation and growth for our clients and their customers. We do this by recycling our clients’ best IT assets to take advantage of digital solutions including web, mobile, cloud and AI – reducing time to market, lowering risk and cost, and making modernization affordable to every IBM i client on the planet. With over 300 digitally connected colleagues around the world and an extensive network of business partners, Fresche collectively brings clients the best solutions to drive innovation and IT success.
About American Pacific Group
American Pacific Group is a San Francisco-based private equity firm with $450 million of capital under management that pursues control investment opportunities primarily in North America. It focuses on complex businesses and transactions across sectors with a particular focus on technology. Together with management teams and in-house operating partners, American Pacific Group drives sustainable growth in its portfolio companies through the “Q Process”, a proprietary and proven approach to value creation. For more information, please visit www.americanpacificgroup.com.
For further details, please contact:
Christine McDowell
Vice President, Corporate Marketing
Fresche Solutions
Christine.McDowell@freschesolutions.com
Cell: +1 514 220-1309
Rene Musech
Managing Director
American Pacific Group
americanpacificgroup@brands2life.com
Tel: +1 415 610-7500
