SFW Capital Partners, a Rye-based specialized private equity firm, has completed the sale of Greenshades Software Inc. to a group led by Waypoint Capital and Gearbox Capital.
Founded in 2002 and headquartered in Jacksonville, Florida, Greenshades is a provider of payroll, payroll tax and human capital management information and software solutions. As part of the transaction, SFW retained a minority stake in the Company. Terms of the transaction were not disclosed.
“With SFW”™s support and resources, we grew our business substantially through investments in new products, talent, and our sales and marketing efforts. SFW has been an invaluable partner and brought substantial experience, resources, and an informed perspective to support this phase of Greenshades”™ growth,” said David Rosas, co-founder and CEO of Greenshades. “We are excited to build on this success with the new investment group going forward.”
“During our ownership, Greenshades evolved significantly and developed a modern, compliance-centric mid-market payroll solution and meaningfully transformed its product offering,” said Roger Freeman, partner at SFW. “We are pleased with the performance of the business, and are grateful for the opportunity to have worked with David and his team to support Greenshades through a period of rapid development and growth.”
