Access Technology Solutions Announces Growth Investment by Tritium Partners and StepStone Group
PROVO, Utah & AUSTIN, Texas--(BUSINESS WIRE)--Access Technology Solutions (ATS), a leading provider of cross-border ecommerce solutions, announced a majority investment by Tritium Partners and StepStone Group to help accelerate its growth. Ocean Avenue Capital Partners also participated in the transaction, which strengthens ATS’s leading position in providing global access for retail and direct selling merchants to increase ecommerce sales with international consumers.
“We chose to partner with the Tritium team because of their strategic approach to building companies and their domain knowledge and track record in both Internet/ecommerce and logistics. They were a perfect fit for our organization.”
Founded in 2002, ATS has been one of the fastest growing private companies in the U.S., benefiting from increasing consumer demand to purchase online from merchants based outside of their country of origin. ATS helps merchants and consumers fulfill this demand with its turnkey, cloud-based technology and proprietary end-to-end logistics network that reduces the cost and complexity of transacting globally. ATS currently services more than 75 merchants worldwide and has fulfilled more than 6 million cross-border transactions.
“International expansion is top of mind for merchants and our analysis of this market identified ATS as having the best solution for merchants looking to address consumer demand for cross-border purchases,” said David Lack, Managing Partner at Tritium. “From a feature and functionality standpoint, ATS’s technology stood out as the most robust, time-tested platform on the market, and its logistics network has the distinct advantage of providing lower, fully landed costs to the consumer than competitive offerings.”
Tritium Partners will be working closely with Chris Boyle, founder and CEO of ATS, and his management team to expand its logistics network to new markets and to invest significantly to enhance its cross-border transaction solutions and services to merchants.
“This transaction positions ATS for its next phase of growth,” said Chris Boyle. “We chose to partner with the Tritium team because of their strategic approach to building companies and their domain knowledge and track record in both Internet/ecommerce and logistics. They were a perfect fit for our organization.”
Matt Bowman, Partner at Tritium, added, “We’re excited about our relationship with this team and the compelling opportunity we see for ATS to strengthen its position in this large and growing market. ATS’s advantaged technology offering and superior logistics network is ideally positioned to help merchants address the growing demand for cross-border ecommerce.”
Pacific Crest Securities acted as the exclusive financial advisor to ATS in the transaction.
About Access Technology Solutions
Access Technology Solutions (www.accessts.com) is the leading international sales and logistics partner for retail and direct selling merchants, helping both new and large brands expand globally faster and with less risk and investment. ATS provides merchants and cross-border ecommerce companies with a simple, turnkey solution to sell and fulfill products internationally with its cloud-based technology and end-to-end logistics network that reduces the complexity of transacting globally and lowers the overall landed cost. In addition to its merchant solutions, ATS also operates consumer websites that let international shoppers purchase directly from the U.S. and consolidate packages for forwarding directly to their door.
About Tritium Partners
Tritium Partners (www.tritiumpartners.com) is a private equity firm focused on growth buyouts in the lower middle market. Since 1999, the team at Tritium has deployed over $600 million of equity capital while partnering with talented founders and executives to build great companies. The firm’s emphasis is on long-term value creation through internal growth initiatives and acquisitions, with a particular focus on three core sectors:
- Internet, information and media
- Supply chain and logistics
- Business and financial services
About StepStone Group
StepStone Group LP (www.stepstoneglobal.com) is a leading private markets firm that oversees approximately $60 billion of private capital allocations, including US$10 billion of assets under management. It is a global firm with offices in New York, London, San Diego, Beijing, San Francisco, Hong Kong, Sao Paulo and Seoul. StepStone creates customized and targeted portfolios for the world’s most sophisticated investors using a highly disciplined research-focused approach that integrates primary, secondary, credit and co-investments. StepStone leverages its unique global platform to optimize exposure to top performing investment managers in all strategies and geographies.
About Ocean Avenue Capital Partners
Ocean Avenue Capital Partners, L.P. (www.oceanavenuecapital.com ) is a Santa Monica, CA based private equity firm that partners with sponsors to invest in small businesses and/or complex situations.