Source Announces The Acquisition Of Hatch Purchasing Corporation To Expand Their Commercial Hospitality FF&E Procurement Services
Source’s recent acquisition of Hatch Purchasing Corporation brings more than 30 years of FF&E procurement expertise and additional project pipeline to their growing commercial design services and tools.
PORTLAND, OR -- AUGUST 24, 2022 – Source, a digital platform that connects architects, designers, contractors, and manufacturers in commercial construction from product discovery to procurement and delivery, announced today the acquisition of Hatch Purchasing Corporation. Hatch Purchasing Corporation (HPC) is an industry leader in FF&E Procurement. HPC has established itself as a client-centric service provider who, through experience and strong vendor relationships, provides hospitality developers, owners and operators with comprehensive FF&E related services and represents their clients in purchasing over $25 million dollars annually.
This acquisition will allow HPC’s current clients a stronger and more integrated discovery and decision experience by being able to leverage the digital collaboration and budgeting tools that Source offers on their digital platform and online material library. Clients of Source will also benefit from the specialized experience and vendor relationships that the HPC team brings to Source. Sean Hatch, former CEO and Founder of HPC will join Source as Executive Vice President of Hospitality & Housing, alongside all team members of HPC as a part of the acquisition.
Nicole Schmidt, CEO of Source stated:
“I first got the opportunity to work with Sean at HPC 15 years ago and was wowed by his collaborative and transparent process for procurement. The level of transparency and ease of communication he provided was sadly not always the norm in the industry. It was inspiring to see that he was able to help his clients realize their visions and remove obstacles that could have gotten in the way without his help and experience to guide them. The shared vision for improving communication, decision making and client satisfaction is a big reason we were motivated to acquire HPC. I’m so excited to partner with Sean and his team and bring the specification and procurement processes together in a streamlined and technology forward way for the owners, architects, and designers that we serve.”
When asked about the acquisition, Sean Hatch commented:
”We are extremely excited to be joining Source and blend together the years of experience our team has with an incredible new platform. I have known and worked with Nicole for over 15 years and seen her throughout various roles in the industry and have always been impressed with her drive, imagination and ability to bring a team together to accomplish the task at hand. When she told me what Source has been able to accomplish and where they were heading as a company, I began to see there was a real opportunity to bring more value, ideas and creativity to our clients. I am confident that together we can provide our clients with better, more efficient and productive outcomes on their projects.”
The acquisition of HPC supports Source’s continued growth, including another recent acquisition of the procurement division of Wildwood House. Source has over 4.1 billion dollars of project value being currently managed on Source. This latest acquisition will help the continued growth of commercial projects being added to the platform, as well as expand the tools and services Source’s clients can access. In addition, Source continues to grow their digital product catalog, including furniture, fixtures and accessories to support new projects and ensure they consistently exceed their client’s schedule, wellness and aesthetic goals, while staying on budget.
About Source
Source is the procurement + decision engine for commercial architects + designers. We streamline product selection by providing an industry-leading product catalog from over 390+ brands, on-demand experts, a Capture tool that allows users to source an infinite catalog from around the web, and our project tools, like our pricing and budgeting dashboard, to track fast and headache-free product decisions from Discovery to Delivery. Learn more at www.tothesource.com
About Hatch Purchasing Corporation
Located out of Seattle, WA, Hatch Purchasing Corporation (HPC) has specialized in FF&E Procurement for 25+ years. As a client centric company HPC provides hospitality developers, owners and operators with a comprehensive source for FF&E related services. While providing our clients with the attention they need and deserve, we ensure that the best FF&E value is being met through our great vendor relations and value engineering experience while maintaining the integrity of the design. HPC protects the stake holders FF&E CapEx investment while opening the hotel on time and under budget.
From limited service projects to boutique and ultra-luxury projects, HPC has a team of seasoned professionals to provide their clients with the best FF&E solution. We all know that there is no perfect project, however, we believe that problems do not get better with time so we are always proactive in bringing solutions to the table. When you hire HPC, you hire a team player and active participant in ensuring a smooth and effective FF&E process. Learn more at www.hatchpurchasing.com
