AFS Technologies In Recap

Phoenix, Arizona-based AFS Technologies, a developer of ERP software for the food and beverage industry, said Thursday afternoon that it has received a new equity financing led by Goldman, Sachs & Co. The firm said the recapitalization will be used to buy out existing investors plus finance strategic acquisitions. The firm also has garnered senior debt financing from TPG Specialty Lending and Wells Fargo Capital Finance. Financial specifics of the equity and debt were not announced by the company. As part of the recap, the firm said it has acquired Answers Inc. and Synectics Group, both providing promotion and claims settlement products. Financial terms of those deals were also not announced.