Exclusive financial advisor to 365 Retail Markets
KPMG Corporate Finance LLC acted as exclusive financial advisor to 365 Retail Markets
KPMG Corporate Finance LLC (“KPMG CF”) is pleased to announce the divestiture of Three Square Market (“32M”) by 365 Retail Markets (“365 Retail”), a portfolio company of Providence Equity Partners, to Seaga Manufacturing (“Seaga”).
Why KPMG Corporate Finance
KPMG CF was well positioned to advise on the divestiture given its deep sector experience and prior transaction history across the retail technology ecosystem. KPMG CF represented 365 Retail in its 2016 sale to McCarthy Capital and represented Parlevel in its 2022 sale to 365 Retail. This experience gave KPMG differentiated insight into 32M’s value proposition, strategic relevance to acquirers, and the key diligence areas required to support a successful transaction.
About Three Square Market
Founded in 1995 and headquartered in River Falls, Wisconsin, 32M is a pioneer in micro-market and self-service retail solutions. The business delivers integrated hardware, software, payment, and data insights that enable foodservice and convenience service operators to deploy frictionless retail environments across workplaces, manufacturing facilities, healthcare, hospitality, and other high-traffic locations. 32M’s platform enables consumers to shop, scan, and pay seamlessly through kiosk-based and mobile experiences. Prior to the divestiture, 32M operated as a subsidiary of 365 Retail.
About Seaga Manufacturing
Headquartered in Freeport, Illinois, Seaga, a portfolio company of Dominus Capital, is a global leader in the design, manufacturing, and deployment of advanced vending and intelligent inventory control technologies. Seaga designs, manufactures, distributes, and supports a diverse portfolio of automated retail technologies serving operators and enterprise customers worldwide.
Speaking on the acquisition, Mike Freund, Chief Executive Officer at Seaga said, “The addition of Three Square Market accelerates our technology roadmap and strengthens our ability to support the evolving needs of convenience services operators. The combination of Seaga and Three Square Market enables the delivery of flexible unattended retail solutions that can adapt to each location while delivering strong ROI and an exceptional consumer experience. The addition of Three Square Market’s highly-talented team members will position us well to drive the continued growth and innovation of the combined platform.”
KPMG Corporate Finance
The global Corporate Finance practice of KPMG International’s network of independent member firms was ranked #1 as the top M&A middle-market adviser globally by Refinitiv, based on number of completed transactions, for the past 25 years.
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KPMG Corporate Finance
The global Corporate Finance practice of KPMG International’s network of independent member firms was ranked #1 as the top M&A middle-market adviser globally by Refinitiv, based on number of completed transactions, for the past 25 years.