Valsoft acquires Enrich Software Corporation
MONTREAL, October 25th, 2022 – Valsoft Corporation Inc. (“Valsoft”), a Montreal-based company specializing in the acquisition and development of software companies in vertical markets, is pleased to announce the acquisition of Enrich Software Corporation (“Enrich”), the leading North American vendor and developer of Enterprise Resource Planning software for the Full-Service Truck Leasing Industry. In addition, Enrich is a leader in Asset Management and maintenance software solutions for professional Fleet Management.
Enrich was originally founded in 1990 by Eric Richer as Richer & Associates, a custom software development provider, working with companies such as BMW and IBM. In 1995, they introduced packaged software and equipment maintenance management systems, subsequently, evolving to a full enterprise resource planning software for full-service leasing management.
“It has been an amazing 33 years since I founded Enrich,” explained Richer. “Enrich employees are the best in the industry and our customers are leaders in their field. I will miss the daily interaction with everyone, but I have no doubt I am leaving Enrich in capable hands. Enrich has a bright future under the Valsoft umbrella and will benefit from continued growth in a larger global organization.”
“Enrich is an amazing addition to Valsoft, full of synergies and very complimentary to our existing rental and transport & logistics verticals and will play a key role in expanding our capabilities with its best-in-class software in full-service leasing and maintenance, fleet management, asset tracking, fuel tax management, workflow solutions and much more,” said Rafael Mazzeo, VP & Managing Director of Aspire, the operating arm of Valsoft. “Together with Enrich’s outstanding management team and staff, we will build upon Enrich’s legacy and continue the long-lasting relationship with customers, always looking for opportunities to grow and expand.”
About Enrich Software Corporation
Enrich Software Corp. is the leading North American vendor and developer of ERP (Enterprise Resource Planning) software for the Full-Service Truck Leasing Industry and a leader in Asset Management and Maintenance software solutions for professional Fleet Management. Enrich also provides consulting, business process solutions, and hosting services (SaaS) in support of its software. Founded in 1990, the Company maintains its corporate office in Calgary, Alberta.
About Valsoft Corporation
Valsoft Corporation acquires and develops vertical market software companies through which each business can deliver the best mission-critical solutions for customers in their respective industry or niche. A key tenet of Valsoft’s philosophy is to invest in well-established businesses and foster an entrepreneurial environment that shapes a company into a leader in its respective industry. Unlike private equity and VC firms, Valsoft does not have a predefined investment horizon and looks to buy, hold, and create value through long-term partnerships with existing management and customers.
Valsoft was represented internally by David Felicissimo, General Counsel, Shinjay (Ssin) Choi, Senior Legal Counsel, and Elisa Marcon, Corporate Paralegal. Enrich was represented by David W. Rowbotham from Rowbotham Law Office (Calgary, Alberta).