Current Capital Advises Sole Source Capital on its Acquisition of Supply Chain Services
Santa Monica, California, May 6, 2020 – Sole Source Capital LLC (“SSC”), an industrial-focused private equity firm providing capital to North American lower-middle market companies, today announced the acquisition of Supply Chain Services (the “Company”), a premier provider of automatic identification and data capture (AIDC) and factory automation solutions to customers across North America. Terms of the transaction were not disclosed.
Founded in 2002, Supply Chain Services delivers innovative automated data collection solutions to nearly 2,000 customers, providing critical technology that allows businesses to become more efficient and responsive. The Company partners with top-tier industry suppliers to offer a wide range of technology and customized solutions, including mobile computers, robotics, and RFID, to revolutionize and automate supply chains of high-growth industries such as food processing and distribution, grocery, health care, e-commerce, manufacturing, and logistics services. The Company also provides consulting, project management, training, deployment, technical support, and repair services.
As part of the transaction, Dave Green, Supply Chain Services’ Chief Operating Officer, will assume the role of Chief Executive Officer, succeeding the current owner Chip Emery, who is retiring from the Company.
By leveraging SSC’s wealth of experience investing in leading industrial companies and its operating and M&A capabilities, this partnership is expected to propel Supply Chain Services’ continued expansion. As the final platform investment in SSC Partners I, SSC plans to use Supply Chain Services as a platform to acquire other industrial business services companies and will utilize the Company’s strong reputation and deep industry relationships to help execute its M&A strategy.
“With the increasing reliance on digital technology, automated data capture has become critical to our economy as companies look for ways to improve their supply chains and become more efficient and responsive,” said David Fredston, Managing Partner of Sole Source Capital. “Supply Chain Services’ differentiated approach, mission critical products, and value-added consulting services have positioned the Company as a leader in this growing industry. With an experienced management team, devoted customer base, and acquisition-ready infrastructure, we believe that Supply Chain Services is poised to capitalize on a range of compelling opportunities for continued growth.”
Current Capital Partners advised Sole Source Capital in connection with the transaction. Charter Capital Partners advised Supply Chain Services in connection with the transaction.
About Sole Source Capital
Sole Source Capital (“SSC”) is a private equity firm that targets investments in lower-middle market companies. The acquisition of Supply Chain Services marks the eighth acquisition for the senior team at SSC since 2017. The Firm seeks to invest in companies with at least $50 million of revenue and $5 million of EBITDA. Areas of interest include high precision manufacturing, diversified distribution, and industrial service companies. Types of transactions include management buyouts, corporate divestitures, and founder/family owned businesses. SSC was formed in 2016 and is headquartered in Santa Monica, CA. For more information on SSC, please visit www.solesourcecapital.com.
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 Current Capital Partners LLC
Current Capital Partners LLC is an independent advisory and merchant banking firm focused primarily on the industrial and services sectors. We provide mergers and acquisitions and restructuring advisory services, corporate management services, and private equity investing. The mergers and acquisitions advisory effort offers high quality financial advisory services – including ideas, buy-side and sell-side execution, strategic and capital structure reviews, restructuring advisory and related services – for corporate and investment firm clients seeking an independent perspective and senior attention. In our management services effort, we manage investments, sit on Boards of Directors and provide related consulting services for other investors and financial institutions; and offer advice and expert witness services in complex corporate litigation. Our private equity investing business helps create value, primarily in lower middle market and smaller companies, with an integrated operating, finance and investment approach. Our Advisory Board and Executive Network are important advantages for our clients. Learn more at www.currentcap.com.
Kevin J. Smith
Telephone: +1 212 223 0637
Email: [email protected]