Investment in PDI will accelerate growth opportunities in the convenience retail and foodservice industries.
PDI, a leading provider of enterprise-class retail automation software systems to the convenience retail and foodservice industries, announced that the PDI management team has joined with Luminate Capital Partners to acquire PDI from McLane Co. Inc.
PDI provides software, hosted solutions, and professional services to multi-unit convenience retailers and wholesale petroleum marketers. Over 350 companies operating more than 30,000 locations worldwide rely on PDI’s software systems for retail automation, supply-chain management, business intelligence, financial reporting, and employee time and labor management.
The current PDI management team will continue to lead PDI and will own a significant equity interest in the now independent company. In partnership with Luminate Capital Partners, PDI will seek opportunities to grow the company both organically and through selective acquisitions.
“Our team is thrilled to partner with Luminate Capital to take our growth strategy to the next level while preserving the customer success principles that have been paramount to our business for the past thirty years,” said PDI president Greg Gilkerson. “We needed a financial partner to do this. We had very high standards, and Luminate Capital exceeded them all.”
Gilkerson added, “I also want to thank the McLane Co. McLane has been a fantastic owner for more than 20 years. Under their watch, PDI has developed into a significant force in the convenience retail and foodservice industries.”
“PDI has been a valuable part of the McLane family for the past 24 years. We see this acquisition as a great opportunity for PDI to expand their offering and customer base,” said Jim Kent, McLane executive vice president.
As part of the transaction, Hollie Moore Haynes and Scott Kingsfield from Luminate Capital will join the PDI board.
Gilkerson added, “Hollie Moore Haynes and Scott Kingsfield bring deep technology, software, and retail experience that will be invaluable to PDI as we move in the next direction, and Luminate Capital sees PDI as a great platform to build additional products and services for our industry.”
“We are delighted to partner with Greg and his outstanding team to help drive PDI forward,” said Hollie Moore Haynes. “PDI has built a solid market leadership position that we look forward to extending more broadly in the convenience retail and foodservice industries. We also look forward to potential additional acquisitions in this sector to broaden the PDI platform.”
“PDI is an incredible company that I have known and respected for many years in the industry. Greg and his team are talented and totally committed. I look forward to working with them to fulfill our joint vision,” said Kingsfield.
