Appriss Retail, a provider of solutions designed to help retailers reduce losses, decrease return and claim fraud and abuse, and create a frictionless consumer experience, announced that an affiliate of private equity firm Gemspring Capital Management, LLC has acquired the company. Financial terms of the deal were not disclosed.
Gemspring is a Westport, Connecticut-based private equity firm that provides flexible capital solutions to middle market companies. Gemspring’s expertise will bring new energy, experience, and perspective to the Appriss Retail business. The investment in Appriss Retail will drive innovation and enhance the company’s ability to expand its unique suite of solutions, empowering retailers to combat fraud and address all aspects of shrink more effectively.
Appriss Retail says it is committed to the continued growth of its customers, which includes 60 of the top 100 US retailers and organizations in 45 countries across six continents. This acquisition further boosts Appriss Retail’s strength in the retail market and will open additional areas for investment going forward.
“We are thrilled to join forces with Gemspring as we enter this next phase of growth,” said Michael Osborne, CEO, Appriss Retail. “Their investment and expertise will enhance innovation across our solutions, enabling us to deliver even greater value to our retail partners. Together, we’ll continue to empower retailers to fight fraud, reduce shrink, and provide seamless consumer experiences—all while driving stronger profitability and growing customer relationships.”
Aron Grossman, managing director at Gemspring, added, “Appriss is widely recognized for its innovation in returns, claims, and loss prevention, distinguishing itself in the market and delivering exceptional value to its industry-leading customers. We look forward to partnering with Michael and the Appriss Retail team to support the company’s next phase of growth.”
Evercore acted as Appriss Retail’s financial advisor and Willkie Farr & Gallagher acted as legal advisor.