Further Positions Company to Build on Market, Technology Leadership with Complementary and Comprehensive Portfolio of High-Quality Products and Solutions
Santa Monica, CA /PRNewswire/ - Sole Source Capital LLC ("Sole Source" or the "Firm"), an industrial-focused private equity firm providing capital to North American lower-middle market companies, today announced that its portfolio company, Supply Chain Services ("the Company"), a premier provider of automatic identification and data capture (AIDC) and factory automation solutions to customers across North America, has acquired Miles Data Technologies ("Miles Data"), a leading provider of barcode, RFID, and mobility solutions. Financial terms of the transaction were not disclosed.
With more than 30 years of experience, Miles Data provides a comprehensive line of products and services to approximately 2,000 customers throughout North America for all of their barcode, RFID, and mobility needs. By providing hands-on, high-touch services from product selection and testing to configuration, deployment and training, Miles Data has developed a diverse client base of companies that are prioritizing a mobile-first business strategy. In 2015, Miles Data established the first-ever Miles Data Solution Center, a state-of-the-art, one-stop location that demonstrates each product offering and solution for current and prospective clients.
In conjunction with the transaction, Miles Data's current CEO Robert Ladd will continue to oversee the business and will assume the new role of Executive Vice President, working directly with Supply Chain Services CEO Dave Green to continue to drive growth and create value for the Company.
Supply Chain Services delivers innovative, automated data collection solutions to nearly 3,000 customers, providing critical technology that allows businesses to become more efficient and responsive. The Company was acquired by Sole Source Capital in May 2020. Through this acquisition of Miles Data, Supply Chain Services will continue to grow its range of barcoding and data collection solutions for clients, underscoring its technology-driven product leadership and unparalleled commitment to high quality customer service. This transaction follows the Company's previous add-on acquisition in August 2020 of Dasco Label, a leading solutions provider of custom labels, imprinting, serialization, and barcoding services.
"Supply Chain Services and Sole Source Capital share our values and commitment to enhancing our capabilities and the technology-driven solutions we provide," said Mr. Ladd. "We look forward to joining the Supply Chain Services family and working with the exceptional team at Sole Source Capital to continue to drive operational improvements, identify future growth and acquisition opportunities and develop exceptional, customer-centric solutions for a broad base of clients."
"We are very excited to welcome Robert and the great organization at Miles Data to our team," said Dave Green, CEO of Supply Chain Services. "Together, we will leverage our complementary product and service offerings to capitalize on the growing opportunity in the technology-based supply chain solutions space and continue to help our customers operate better across North America."
David Fredston, Managing Partner of Sole Source Capital, said, "As a founder owned and led business, Miles Data's unique culture of innovation and its commitment to providing the highest quality solutions for its clients' most difficult supply chain challenges has differentiated its business and make it highly compatible with Supply Chain Services."
About Supply Chain Services
Headquartered in Oakdale, Minnesota, Supply Chain Services is a North American value-added reseller of barcoding and data collection solutions. As experts in data collection technology, the Company works to provide knowledgeable sales and information technology expertise to increase efficiency and productivity to a wide range of end markets such as food processing and distribution, grocery, healthcare, e-commerce, manufacturing, and logistics services. For more information, please visit www.supplychainservices.com/.
About Miles Data
Headquartered in Waukesha, Wisconsin, Miles Data is a leading provider of barcode, RFID, and mobility solutions with more than 30 years of experience. Building on years of working with manufacturers, warehouses, the healthcare industry, and other organizations, Miles Data carefully evaluates its clients' operation and needs, listening to specific challenges and goals, and works with them to develop a plan that will deliver results and ROI. Miles Data assists its clients with a wide range of projects, including asset tracking, inventory control, field service, and enterprise labeling that improve workflows, reduce labor costs, and increase productivity.
About Sole Source Capital
Founded in 2016 by David Fredston, Sole Source Capital is an operationally-focused lower-middle market private equity firm that targets investments in high-growth industrial sub-sectors including precision manufacturing, diversified distribution, packaging, and industrial services. Sole Source seeks to partner with strong management teams and founder-owned businesses that will benefit from the team's operating and M&A capabilities. The Firm is headquartered in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact email@example.com.