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Fintech Makes First Strategic Acquisition with Purchase of Lilypad Solutions, LLC
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Financial Information Technologies, LLC (“Fintech”), the leading business solutions provider for the beverage alcohol industry, today announced that it has acquired Lilypad Solutions, LLC, the alcohol industry’s ultimate sales platform. The strategic acquisition enhances Fintech’s unique technology offerings, expands its expertise and broadens its client base nationwide.
Fintech created the first electronic payment tool for alcohol purchasing in 1991, and has since grown to provide a progressive, integrated platform that streamlines processes and improves operations at every stage of beverage alcohol management for thousands of clients across the country. The company’s portfolio of products equips organizations that sell alcohol with dynamic resources to improve business efficiencies. Together, Fintech’s complete, technology-driven platform and Lilypad’s dynamic sales tools will provide a comprehensive solution to all industry participants.
“We are pleased to add Lilypad’s quality services and robust client roster to our existing portfolio, and we look forward to working with Lilypad co-founders, CEO Eric Rabinovitz and CTO Pete Ladis,” said Tad Phelps, President of Fintech. “This acquisition further validates Fintech’s commitment to our clients, and will allow us to combine our industry-leading, actionable data with Lilypad’s innovative sales tools to provide invaluable solutions to the supplier market. It also expands our professional network of employees, and lays the foundation for expansive growth for both companies through new product innovations and other strategic advancements.”
Since 2014, Lilypad Solutions has served suppliers and distributors with a focus on empowering sales teams, improving cross-tier communication, and creating data insights that promote growth. Today, Lilypad partners with hundreds of beverage alcohol companies and remains committed to expanding product offerings that streamline sales processes and maximize client profitability.
“Lilypad originated from a desire to solve problems for distributed sales teams. Our early adopters included many of the top brands in beverage alcohol who helped hone our product to meet the unique challenges faced by those selling in the three-tier system,” said Eric Rabinovitz. “We’re extremely proud and honored to continue our journey with Fintech. Together, we will accelerate our existing platform’s growth while delivering new technologies that improve the way our clients operate in a hyper-competitive market.”
The acquisition, which is a first for Fintech, was completed in the first quarter of 2019. Eric Rabinovitz will join the Fintech executive team and both Fintech and Lilypad Solutions will continue with their normal day-to-day operations as the partnership develops further.
SOURCE Fintech
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