(LONDON, England; 13 November 2023) – UK-based Merchant Technology Ltd. has acquired the ecommerce firm Good Sixty Ltd. in exchange for stock considerations. Good Sixty is one of England’s largest marketplace platforms for independent shops and stores.
The deal brings more than 60,000 new customers to platforms managed by Merchant Technology and 50,000 new products. “This transaction holds significant strategic and operational value for our company,” said Dominic Brookman, Merchant Technology CEO. “The Good Sixty product offering is wholly complementary to Online High Street, a brand we’re already managing.”
Merchant Technology, whose software provides small and medium-sized enterprises payment, invoicing, and business management solutions that are accessible through smartphones, has been aggressively pursuing growth initiatives since engaging TAP Financial Partners, a Miami-based merchant bank, as an equity and debt partner several years ago. The company, initially operating as SimplyPayMe, acquired the assets of Mytown Technologies, and is the parent of Online High Street, an ecommerce marketplace platform, the business directory Mytown UK, and, with the latest transaction, Good Sixty.
“Merchant Technology has made significant operational progress merging brands and platforms that enhance what it offers SMEs,” said Bob Press, founder of TAP Financial Partners. “They are growing in a wholly sustainable way, not only through these strategic acquisitions but also organically as clients have success with their software.”
Brookman said Good Sixty was attractive to his company for several reasons, including:
- Over £4.5m in sales revenue to date
- More than a thousand retailers under contract, resulting in 230,000+ orders
- A long-term contract with Camden Market, plus agreements with markets in the U.S. and Canada
- A fully-integrated courier delivery model with operations across the UK
The transaction fits within Merchant Technology’s growth agenda to acquire complementary software-as-a-service businesses that management feels have the potential for further growth.
# # #
TAP Financial Partners is a privately-held, boutique merchant bank providing advisory, restructuring, debt and equity, investment, Mergers and Acquisition structuring and lending services, fulfillment, and up-listing advice to a select group of small and mid-sized enterprises. Its financial expertise and decades of collective experience position it to be a difference-maker for clients, no matter the assignment or mandate.
To learn more about services and impact, connect at www.tap-partners.com or info@tap-partners.com.
