Black Dragon Capital (BDC) has acquired Maginus, an e-commerce software and technology solutions developer for retailers and distributors, the private equity firm announced. BDC plans to combine Maginus and Digital Goodie, another portfolio company, as part of a strategy to carve a leadership position in the large and growing Order Management System (OMS) sector serving the grocery and general product retail industries.
“The combined Maginus and Digital Goodie company will have a one-of-a-kind cloud-based Order Management System platform to handle the complete product portfolio of retailers. The enhanced scale and expanded product suite will position the company to capture a greater share of the vast OMS market, which is projected to grow at an average rate of 11% a year through 2023,” said Louis Hernandez, Jr., founder, chairman and managing director of BDC, which makes control investments in growth companies and industries disrupted by digitization.
“The Maginus eCommerce OMS has a proven platform at scale for general product categories and has delivered proven results to retailers. When combined with Digital Goodie’s powerful grocery centric OMS initiatives, we will have a unique platform and the potential to expand recurring revenues and widen margins across multiple retail categories. The combined company will build value for customers and, we believe, promises compelling value for our investors,” Hernandez said.
BDC, which is minority-led and focuses on investments in complex technical fields, takes an operationally led, thesis-driven approach. All of the firm’s principals and advisors are successful entrepreneurs with significant experience, and they work closely with BDC portfolio companies toward creating market leaders. They have a unique perspective on the impact of digitization on workflow, technology, economics and human factors driving the transformation of the digital landscape. Hernandez and BDC will use the three-phrase Black Dragon Playbook™ to guide the transformation of the Maginus-Digital Goodie combination.
Moris Chemtov, CEO of Digital Goodie, said, “We are very excited at the potential of our combined companies. Our market leading cloud platform for groceries is a natural fit for the expanded and proven OMS platform for general products that Maginus offers. This is a perfect combination that uniquely positions us in the market, and gives our clients and partners who want to compete and win in digital commerce an advantage.”
Simon Weeks, CEO of Maginus, said, “We are excited to partner with Black Dragon Capital and their outstanding record of working with management teams to create market leading companies. We look forward to a long and successful relationship.”
About Maginus
Based in Manchester, UK, Maginus develops e-commerce software and technology solutions for mid-market retailers and distributors with the goal of providing unified customer experiences across physical and online channels. Its full-feature, proprietary OMS solution serves companies in B2B and B2C e-commerce. Maginus, which won Magento’s 2019 Shooting Star Award and Episerver’s Commerce Partner of the Year Award, is also an integrator of front-end e-commerce systems. https://www.maginus.com
About Digital Goodie
Digital Goodie is a Finnish digital commerce technology company providing a modern and fully customizable connected commerce platform aiming at connecting online and brick and mortar worlds to one seamless and simple user experience. The Digital Goodie Connected Commerce platform was included in the Gartner Digital Commerce Vendor Guide 2018 among the leading applications of the digital commerce ecosystem. The platform runs on top of a new generation microservices architecture consisting of modular commerce and fulfillment solutions. Digital Goodie was founded in 2009, and has headquarters in Helsinki, Finland. Digital Goodie is backed by the US based e-commerce growth fund Black Dragon Capital. http://www.digitalgoodie.com
About Black Dragon Capital
Black Dragon Capital, based in Miami, Fla., is a minority-led private equity firm with a focus on growth investments, particularly in digital commerce, financial services and media technology. Black Dragon’s team of industry professionals have significant operational experience, strong financial backgrounds and proven track records of success and investment experience, ranging from startups to billion-dollar organizations in both public and private vehicles. The company leverages its network expertise and deep domain knowledge to assist in accelerating growth and profits in selected markets – all while working closely with entrepreneurs. https://blackdragoncap.com
