New York, NY /PRNewswire/ - Odyssey Investment Partners, LLC ("Odyssey") announced today that an affiliate has acquired Barcodes, Inc. (the "Company") from affiliates of Cortec Group. Financial terms of the transaction were not disclosed.
Headquartered in Chicago, Barcodes is a leading solution provider of products and services that enable businesses to digitally capture and act on data related to their assets, people, and transactions. The Company's Automatic Identification & Data Capture ("AIDC") and Identification & Access Control ("ID") products, which include barcode scanners, mobile computers, label printers, point-of-sale systems, identification cards, RFID equipment, and other related consumable products, enable customers to improve productivity and profitability in their businesses. In addition, Barcodes offers value-added services to complement its product offering, including system design, configuration, integration, and technical support services. Barcodes primarily sells to small and medium-sized businesses as well as select Fortune 500 customers across the US, Canada, and UK. The Company maintains strong relationships with the premier manufacturers in the industry and effectively engages its customers through multiple sales channels and its service organization. For more information on Barcodes, please visit www.barcodesinc.com.
Craig Staub, a Managing Principal of Odyssey, said: "We are excited to acquire Barcodes in partnership with the Company's management team. Barcodes has established a leading market position and comprehensive product and service offerings, in a dynamic and growing industry. We look forward to collaborating with Dan Nettesheim and his team to capitalize on the business' many attractive and diverse opportunities to build value for all of its stakeholders."
The Barcodes management team, including CEO Daniel Nettesheim, has invested in the transaction and will continue to lead the Company under Odyssey's ownership.
Mr. Nettesheim said: "Our new partnership with Odyssey is a powerful validation of what Barcodes has accomplished and our significant potential. Odyssey recognizes that Barcodes' technical expertise and ability to offer customized solutions make us a go-to provider for our customers. We are very enthusiastic about our new partnership with an experienced investor that has a long history of supporting growing and innovative companies as they pursue new levels of success."
About Odyssey Investment Partners
Odyssey Investment Partners, LLC with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 20 year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified business with strong growth profiles. Odyssey makes majority controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit www.odysseyinvestment.com.