American investors take bite out of food software business
MUDDY Boots Software has secured a multi-million pound investment from US-headquartered Carrier Corporation to support its continued expansion and international market development.
Ross-on-Wye based Muddy Boots provides software for the food supply chain which gives users transparency from grower to retailer, with greater insight into the performance of suppliers on the quality, compliance and provenance of their products.
Founded in 1996, the company now employs a team of more than 100, supporting 2,000 customers across 40 countries.
Carrier Corporation is a global leader in cold chain technologies, with products and services designed to help monitor and manage the cold chain of the world’s most temperature-sensitive, perishable products: food, pharmaceuticals, biologics and industrial chemicals.
Muddy Boots’ managing director Jon Evans said: “This investment comes at a pivotal point in the next phase of development of Muddy Boots. We are delighted to be working with Carrier who have a significant global footprint. The investment coupled with the synergies between our respective offers will fuel our ambitious growth plans over the coming years.”
Muddy Boots Software was advised on the transaction by Springboard Corporate Finance, with a team led by partner Justin Sparks and assistant director Robert Johnson.
Mr Sparks added: “The founding shareholders invested to develop market leading solutions for the food supply chain and Muddy Boots was seeking a partner that not only provided access to finance but also could provide assistance with their plans for international expansion. Carrier Corporation delivers on all these requirements and we look forward to the continued success of Muddy Boots.”
Legal advice to Muddy Boots was provided Rod Thomas, Rebecca Leask and Inger Anson from Harrison Clark Rickerbys. HSBC provided working capital facilities to the company.
