Edinburgh-based hospitality trade technology provider Zonal, which works with many of the sector’s biggest bar, restaurant and hotel companies, has been acquired by Volaris Group, a “buy-and-hold” software and technology group headquartered in Toronto, Canada.
The acquisition will see Zonal CEO and shareholder Stuart McLean step down from the business.
Zonal is a provider of electronic point-of-sale (E-POS) and integrated software solutions to hospitality and leisure businesses.
“This acquisition by Volaris heralds an exciting new era for Zonal – technology provider of choice for an array of companies across the UK hospitality and leisure sector,” said the Edinburgh firm.
“Its customers include Greene King, Mitchells & Butlers and Pizza Express. The backing by Volaris Group creates opportunities to accelerate Zonal’s next-generation software, while maintaining Zonal as an autonomous and independent subsidiary of the Group.
“Volaris is a strategic and long-term technology investor, operating a ‘buy-and-keep’ philosophy, which means they are committed owners to the business and dedicated to Zonal’s success in the long-term.
McLean said: “We saw in Volaris a genuine long-term home for Zonal. Just as importantly, we also recognised the significant opportunity for Zonal to accelerate forward in its development, and for both the company and the team to grow and develop with it, all the while continuing to put our customers first in everything we do.
“What impressed me most about the Volaris team was a genuine commitment to understanding Zonal and our culture – not just the financials and our products – but as a people-led, customer-first business.
“Building and leading this company has been the privilege of my life but this is a truly great opportunity for Zonal and our customers. I look forward to seeing the business go from strength to strength and will be cheering everyone on from the sidelines.”
Jesper Ulsted, Portfolio Leader at Volaris Group, said: “We are excited to welcome Zonal to the Volaris family. Its strong brand, innovative technology, and customer-centric culture make it a great fit for our portfolio.
“The McLean family have built and nurtured the Zonal business and, under the stewardship of Stuart McLean, it has become a widely-admired technology company in the UK hospitality sector. We look forward to supporting Zonal as it continues to deliver exceptional solutions to its customers and to pursue further opportunities for growth.”