Transaction Marks Sole Source Capital’s Seventh Portfolio Company Investment in the AIDC Sector
SANTA MONICA, Calif.–(BUSINESS WIRE)–Sole Source Capital LLC, an industrial-focused private equity firm, today announced that its portfolio company, Peak Technologies, a provider of barcoding and data collection solutions to customers across North America, has acquired Inovity Inc. The acquisition of Inovity marks Sole Source’s seventh investment in the AIDC space following the April merger of Peak Technologies and Optical Phusion Inc. Terms of the transaction were not disclosed.
Headquartered in Atlanta, Inovity is a value-added reseller of AIDC labels, media and hardware for the healthcare, manufacturing and industrial end-markets. The Inovity team has deep product knowledge, technical expertise and decades of experience working within numerous industries to combine workforce mobility, ERP data mobilization and business process information. It provides customers innovative solutions that connect and relay crucial business data between all points of operational activity, in real time, delivering the intelligence businesses need to stay ahead.
Peak Technologies supplies industry-leading automated data collection solutions to Fortune 500 customers along with small and medium-sized businesses that enables them to become more efficient and responsive to their customers. The acquisition of Inovity allows Peak Technologies to further expand its product offerings and enhance its knowledge base with the continued contributions of Inovity founders Jack Tinsley and Steve George.
“Peak Technologies has been an industry leader for many years, and we are thrilled to be able to offer our joined customer base an unrivaled suite of capabilities and services,” said Jack Tinsley, President of Inovity. “I’d also like to thank Sole Source Capital for being a great partner through this transition period. Their commitment to moving with speed and certainty, operational expertise and experience in the AIDC space was apparent from day one.”
“We are very excited to welcome Jack and Steve and the great organization at Inovity to our team, and look forward to leveraging their veteran industry experience,” said Juliann Larimer, President and CEO of Peak Technologies.
“We are excited to add Inovity to the Sole Source Capital family,” said Scott Sussman, Partner, M&A at Sole Source Capital. “This partnership will further bolster Peak Technologies’ position as a best-in-class AIDC and factory automations solutions provider and further solidifies Sole Source’s position as the pre-eminent partner for family/founder owned businesses.” John Pierucci, Principal, M&A, further noted, “The capabilities and product offerings of Inovity are an ideal fit with Peak Technologies, and we are confident this acquisition will add significant value to our customers base.”
About Sole Source Capital
Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy and build strategy with significant downside protection. The Firm is headquartered in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact firstname.lastname@example.org.
About Peak Technologies
Headquartered in Columbia, Maryland, Peak Technologies is a North American provider of barcoding and data collection solutions. With over 35 years of supply chain, field mobility and retail services expertise, Peak Technologies has an insider’s perspective of the market; its origins, participants, and dynamic forces of change. With extensive application experience across industry segments, Peak Technologies is able to provide objective consultancy on business processes, software, hardware, as well as turn-key solutions for equipment repair, life cycle support, technology, vertical/application and business services. For more information, please visit www.peaktech.com.
Established in 1993, Inovity is a value-added reseller of AIDC hardware equipment, equipment repair services, and software solutions selling into multiple end-markets. Utilizing data automation technology, Inovity helps its customers drive efficiency, improve visibility, extend connectivity, and reduce costs. Inovity is headquartered in Atlanta, GA with two additional offices in Chicago, IL and Memphis, TN. For more information, please visit www.inovity.com
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