New UK investor makes first deal with Birmingham fuel software firm
The acquisition of a Birmingham fuel software provider marks the first investment by a newly launched investor in UK private companies.
Long-term investor Rose Street Partners has purchased Fuelsoft, a software provider for the fuel distribution industry that has been operating for decades.
Rose Street says its long-term approach is “unique”, and is committed to providing an alternative exit option to founder and family-owned businesses through its pool of capital.
Its mission is to build the UK’s “permanent home for enduring businesses”.
Founded by David Kingsman and John Allen, Fuelsoft is now set for an accelerated product development and expansion of the team. Rose Street says the deal enables Fuelsoft to remain independent whilst boosting its growth potential.
Dan Skyte, Rose Street’s Founder & CEO said: “We couldn’t be happier with Fuelsoft as our first investment. Our goal is to invest in niche, market leading businesses run by exceptional people and Fuelsoft fits that description perfectly. We are committed to preserving David and John’s legacy and look forward to working alongside them, and Fuelsoft’s outstanding management team, to deliver the next phase of growth for the company and its loyal customer base.”
David Kingsman, who will remain on Fuelsoft’s Board, commented: “We are excited to partner with Rose Street as we embark on this new chapter. Their philosophy of long-term investment aligns perfectly with our own objectives, and it will enable Fuelsoft to further develop our products, empower our team, and provide the best possible service to our customers.”
