Sole Source Capital Backs Peak-Ryzex's Acquisition of Inovity, Inc.
Sole Source (News - Alert) Capital LLC, an industrial-focused private equity firm, today announced that its portfolio company, Peak-Ryzex, a value-added reseller 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-Ryzex 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-Ryzex 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-Ryzex to further expand its product offerings and enhance its knowledge base with the continued contributions of Inovity founders Jack Tinsley and Steve George.
"Peak-Ryzex 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 Inoviy to our team, and look forward to leveraging their veteran industry experience," said Juliann Larimer, President and CEO of Peak-Ryzex.
"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-Ryzek's 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-Ryzex, and we are confident this acquisition will add significant value to our customers base."
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