We are excited to announce that Working Knowledge (SAMM LLC) has signed a definitive agreement to acquire the assets of Parity Corporation, an industry leader in software for primary and secondary food manufacturers and parent company of ParityFactory.
Parity’s founders worked in food manufacturing for many years and saw first-hand the challenges of recalls, inventory control, plant efficiency and other issues unique to food processing. After an initial start in the Alaskan seafood industry, Parity expanded across the food industry – produce, meat, dairy, nuts, multi-ingredient manufacturers and more. Parity’s team and products have continued to focus on the food factory floor and currently serve customers, ranging from startups with one site to large growing enterprises, throughout North America.
“The Parity team has done remarkable work for their clients over the last 30 years,” stated Sean Clemmons, Partner of Working Knowledge and CEO of newly formed ParityFactory LLC. “One of the biggest drivers in our interest in the business was the strength and capability of the leadership team and we’re looking forward to the future.”
“I’m incredibly excited for both our team members and our clients. We talked with several acquirers before deciding on Working Knowledge’s approach to mentoring and growing businesses. ParityFactory is in a position to provide even greater solutions and service to our valued clients going forward,” said Arvid Tellevik, CEO and Founder of Parity Corporation.
Working Knowledge is a private equity firm created by three successful entrepreneurs in the Pacific Northwest, focused on acquiring and growing strategic businesses.
Parity Corporation, founded over 30 years ago, serves food manufacturers all across America. Their ParityFactory software dramatically increases efficiency on the floor while mitigating risks.
For more information, contact us at ParityFactory@paritycorp.com.