Portland, Oregon-based Source announced its acquisition of 20-year-old Jupiter, Florida-based Berman Purchasing, Inc. The move creates a bicoastal women-led procurement firm with decades of FF&E procurement experience in all types of projects.
Nicole Schmidt, Source’s founder and CEO, explained the strategic move, “We were looking for a firm that aligned with our values and operating ethos: full transparency and commitment to client relationships, with a footprint on the eastern seaboard. Stacey’s seasoned team and the integrity of her purchasing process fit perfectly. Berman Purchasing is well respected, especially in the resort and vacation ownership sectors.”
Stacey Hollender, Berman’s founder, added, “We could not be more excited to join forces with Source and give our clients the benefit of increased resources and leading-edge technology. Source will still deliver the boutique, hands-on service we’re all known for, now with increased purchasing power. This is a win for our clients, employees, and industry colleagues.”
Hollender will become Source’s vice president of procurement operations and lead the 25-person purchasing team, which provides end-to-end services from sourcing through installation tracked in a cloud-based project management platform. The firm’s mission is to increase client asset values by saving time and money in every phase of the process. The team has procured over $6 billion in custom FF&E with deep vendor relationships in all product segments and performs a fiduciary pricing role for FF&E and logistics costs, with fully
transparent vendor pricing.
