01/03/2023
LAS VEGAS, NV – BirchStreet Systems, LLC, a leading provider of procure-to-pay software to the hospitality sector, today announced the appointment of John Fay as the company’s Chief Executive Officer, effective immediately.
“The board is excited to welcome John, a talented and proven senior leader, as CEO to lead BirchStreet through its next phase of growth,” said board member Zach Sadek, a partner with Parthenon Capital.
A multi-time prior CEO, John Fay brings more than 30 years of expertise, with a strong track record for transforming and growing global technology and information services companies including: TrueCommerce, a supply chain platform for the retail industry; INTTRA, the world’s largest ocean logistics e-commerce platform; and Instinet a global financial technology trading platform. John began his career at Morgan Stanley Dean Witter and Goldman Sachs where he was a finance executive in their eCommerce divisions. John earned his MBA from New York University’s Stern School of Business and received his BS in Accounting from Mount St. Mary’s College. He has served on various Boards along with Advisory roles for leading SaaS companies.
Fay succeeds Brendan Reidy, who served in the CEO role on an interim basis since January 2022 and will remain engaged with BirchStreet as the Company’s Executive Chairman. In reflection, Brendan noted, “It has been an honor to lead BirchStreet Systems during the company’s 20th anniversary year, which saw significant worldwide growth driven by our leadership team and fueled through the capitalization from Serent Capital and Parthenon Capital. I am confident John will greatly succeed in his new role and I look forward to supporting him as Executive Chairman along with our entire team.”
Lance Fenton, Partner at Serent Capital, added, “Under Brendan’s leadership as CEO, BirchStreet has made tremendous strides as one of the leading procure-to-pay platforms in the hospitality industry. We’re grateful for his time as CEO at BirchStreet and look forward to continuing to work with him as Executive Chairman of BirchStreet’s Board of Directors.”
John Fay commented, “I am honored for the opportunity to lead BirchStreet Systems, and I am especially thankful for the foundational strength that Brendan and the executive team have built over the last 20 years. I am committed to empowering this talented team to realize its full potential, leading the company during this next phase of growth, and strengthening our customers’ love for our products and services. Our goal is to help our customers drive efficiency gains and control costs throughout their business.”
Fay’s top priorities as CEO of BirchStreet Systems will be advancing the company’s market leadership through organic growth in existing segments, expanded product innovation along with support and customer success and a focused acquisition strategy.
About BirchStreet Systems
BirchStreet Systems powers hospitality and food and beverage enterprises with a comprehensive procure-to-pay business solution. As the global leading provider of spend management solutions in the hospitality industry, 15,500 enterprises in over 130 countries subscribe to BirchStreet to connect with a network of more than 450,000 suppliers.
Established in 2002, BirchStreet is privately held and is headquartered in Las Vegas, NV with offices in California, China, Singapore, India and the UK. For more information, please visit www.birchstreetsystems.com.
Contact: BirchStreet Sales: sales@birchstreet.net / +1-949-978-0305
About Serent Capital
Serent Capital is a growth-focused firm that invests in technology companies with offices in San Francisco and Austin. Serent invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive.
About Parthenon Capital
Parthenon Capital is a leading mid-market private equity firm with offices in Boston, San Francisco and Austin. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in financial and insurance services, healthcare and business services, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how.