SOLON, Ohio — BV Investment Partners has acquired a majority stake in Efficient Collaborative Retail Marketing (ECRM). As a result, Mitch Bowlus, son of founder Charlie Bowlus, will step down as president, and Greg Farrar will take the role of chief executive officer.

BV Investment Partners has acquired a majority stake in Efficient Collaborative Retail Marketing (ECRM). As a result, Mitch Bowlus, son of founder Charlie Bowlus, will step down as president, and Greg Farrar will take the role of chief executive officer.

"I will continue to be a significant shareholder and will be involved in the future strategic growth of the business, but will be transitioning out of the day-to-day operations," said Bowlus in a statement. "With this, I am pleased to announce Greg Farrar as our new CEO. The executive team is very excited that we have found a seasoned senior leader who will undoubtedly help us propel the future growth of the company."

Farrar is the former CEO of Trade Only Design Library (TODL), the leading online product research and specification library for interior designers, architects and other trade professionals. Under his leadership, TODL’s professional membership grew by 50% while its manufacturer library increased by more than 60%.

Prior to his tenure at TODL, Farrar was president of Nielsen Business Media from 2007 to 2010. He had been named chief operating officer of Nielsen Business Media in 2006, leading the reorganization of that company’s operations.

"This is about growing and serving our customers better," said Farrar. "It’s about taking the opportunity to enter into markets we don’t currently serve."