New York private equity firm Quality Standard has made what it is calling “a strategic investment” in Flexi Software, a Shelton-based accounting software provider, and installed its co-founder as CEO. The deal’s financial terms were not disclosed. Stefan Bothe, Flexi’s co-founder, has stepped down from his role as CEO and chairman pursuant to the investment, […]
New York private equity firm Quality Standard has made what it is calling “a strategic investment” in Flexi Software, a Shelton-based accounting software provider, and installed its co-founder as CEO.
The deal’s financial terms were not disclosed.
Stefan Bothe, Flexi’s co-founder, has stepped down from his role as CEO and chairman pursuant to the investment, after 32 years in that role. The company was established in 1992.
Jason Gilliland, co-founder of Quality Standard, has replaced Bothe as CEO of Flexi, which is headquartered at 2 Trap Falls Road, in Shelton.
"We're in it for the long haul and excited to invest further in Flexi's team and technology,” he said. “We feel privileged to support Flexi's mission of providing the best industry-specific accounting software to help our customers thrive."
Flexi's core markets include insurance, credit unions and banking, Quality Standard said. The firm provides its software to companies and technology vendors worldwide.
"We were seeking a long-term home for the business and an investor committed to continuing Flexi's growth for many years to come," Bothe said.
