Falls Church firm buys Silicon Valley company
Advancea LLC acquires Group Purchasing Solutions
Falls Church-based association advisory firm Advancea LLC announced Tuesday it has acquired Arroyo Grande, California-based Group Purchasing Solutions (GPS).
Financial terms of the acquisition were not disclosed.
Founded in 2008, GPS specializes in affinity programs serving mid-sized businesses. Affinity programs are partnerships between nonprofits and businesses in which a business may offer exclusive products or services to members (often from well-known brands) while the nonprofit benefits from part of the sale. GPS originally formed to serve trade organizations and its members by procuring products and services.
“Continuing to build a better and broader network of suppliers for our association clients and their members takes working with great companies and strong leaders,” Advancea CEO Lucas McCann said in a statement. “GPS and [its president Darryl Buck] are both of those. The value created for all of our brands will be significant.”
McCann and Buck plan to focus on negotiating member savings and offerings in 2021, according to a company statement.
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