Diversis Capital Management LP, a private equity firm based in Los Angeles, has acquired Orem-based Fishbowl. Fishbowl develops and markets a desktop inventory management platform to be used in conjunction with QuickBooks. The company recently introduced a mobile version of its software.
Founded in 2013, Diversis is a software- and technology-focused fund that invests in lower middle-market companies, targeting situations where it can add value in helping a company grow.
Fishbowl was founded in 2001and its core products include Fishbowl Warehouse, Fishbowl Manufacturing and Fishbowl Online. Fishbowl Warehouse helps automate order creation, control inventory flow and manage multiple warehouses. Fishbowl Manufacturing provides manufacturing inventory management to maximize efficiency in the production process and Fishbowl Online inventory management software includes stock alerts, reordering and other tools to maximize production efficiency, the company said. The company has over 200 employees.
“While we were not actively seeking to sell the company, we were approached by Diversis and were impressed by their team’s knowledge of our business and enthusiasm to invest in our products, our team and our customers to bring our solutions to more companies around the globe,” said John David King, CEO of Fishbowl. “This transaction is a great validation of our people, platform and market leadership and will help us accelerate product investment to meet growing customer demands.”
“Over the past 20 years, the team has built Fishbowl into a leading provider of inventory management software and we are anxious to further build the manufacturing and warehouse businesses,” said Ron Nayot, Diversis co-founder and managing partner. “We also see significant opportunities to build Fishbowl internationally by accelerating the launch of new SaaS product offerings, focusing on e-commerce and growing the hosting business. In addition, we are actively identifying strategic add-on acquisitions to broaden the product portfolio.”