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ATLANTA (June 26, 2018) – BAM, a leading provider of fintech solutions headquartered in Atlanta, has acquired Multi Service Factoring (MSF), the freight factoring division of Multi Service Technology Solutions, Inc. (MSTS).
BAM’s specialty finance and operations platform, BAMwire™, will provide current MSF customers with access to additional technology and capital to streamline back-office operations and scale faster.
In addition to the acquisition, BAM and MSTS has formed a partnership to provide customers with access to a full range of fleet solutions. BAM’s customers will have access to MSTS’ Fuel Card and MSTS’ customers will continue to have access to BAM’s cash management and working capital solutions.
“We are always looking for opportunities to grow our team with top talent in the industry. The MSF team has built a successful business and we are looking forward to blending the skill sets of the teams,” said Todd Ehrlich, CEO and Founder of BAM. “This acquisition will position us to offer an unprecedented level of support to our transportation customers. We’re looking forward to this partnership thriving.”
Hovde Group, LLC served as the exclusive financial advisor to MSTS in connection with the transaction.
BAM is a leading provider of financial technology solutions including cash management and working capital solutions for transportation, construction, oil and gas and temporary staffing service providers, committed to helping clients increase their financial performance through operational efficiency. BAM’s proprietary payment processing and cash management engine, BAMwire™, allows businesses access to capital more quickly, reducing days to pay, improving credit scores and building stronger vendor relationships while increasing cash flow. Unlike traditional bank lending or factoring arrangements, BAM uses proprietary technology to improve access to capital across industries and service providers. Learn more at www.bamfi.com.