NewBold Technologies Expands Retail Footprint With Spencer Acquisition

The merger combines NewBold’s expertise in payment device management with Spencer’s deep-rooted logistics and field technician network. By integrating their operations, the companies aim to offer a unified platform for technology procurement, deployment, and maintenance. The combined entity will leverage a sprawling network of W2 employees and certified contractors to support clients across the retail, grocery, and warehousing industries.

Johan Claassen, CEO of NewBold, noted that the acquisition provides the scale necessary to compete at the top of the managed services industry. Spencer Technologies, which boasts a 97% on-time delivery rate and handles over 500 field jobs daily, brings five decades of market experience to the partnership. David Strickler, CEO of Spencer, will remain with the business in a consulting role to ensure a smooth transition of the firm's long-standing enterprise relationships. Michael Duffy, Principal at Fort Point Capital, described the move as a natural extension of NewBold’s core practice, positioning the firm to handle the entire lifecycle of store technology for its clients.