Coolfront acquired by Advent International
Deal Synopsis
The company was acquired by FieldEdge, a subsidiary of Clearent, via its financial sponsor Advent International for an undisclosed amount on February 7, 2019.
Seller Details
Coolfront is a developer of a mobile application for flat-rate pricing app used in plumbing and electrical industries based in Rochester, New York. The company develops a cloud-based mobile application that helps users in flat-rate pricing and maintenance agreement management systems.
Buyer Details
Provider of payment processing services to financial institutions designed to take a hard stand against hidden fees and pricing tricks. The company offers credit card payment processing services through its proprietary platform, enabling small business owners to securely accept payments.
Advent International is a private equity firm that is based in Boston, Massachusetts. The firm seeks to invest in business & financial services, healthcare, industrial, retail, consumer & leisure and technology sectors.