Sole Source Capital LLC, an industrial-focused private equity firm, has acquired Peak-Ryzex from Keystone Capital and Optical Phusion Inc. from its founders, two providers of automatic identification, data capture and factory automation services. The companies will be merged and led by Peak-Ryzex CEO Juliann Larimer, CFO Michele Adams and OPI president Tony Rivers.
These transactions mark Sole Source’s 5th and 6th investments in the AIDC space, following the purchase of Supply Chain Services and add-on investments after the acquisition of Dasco Label, Miles Data and Coridian.
“These two acquisitions are a natural fit with our investment thesis, as we are a thematically-driven firm and automation is a strong area of focus. The AIDC market is both highly fragmented and has strong industry tailwinds,” said David Fredston, founder and managing partner of Sole Source Capital. “We are confident in the cultural fit between Peak-Ryzex and OPI, and we are excited to pool our collective resources in the pursuit of building a larger, forward-thinking business to grow with the increased digitization of the supply chain.”
“This investment is a testament to the hard work of the Peak-Ryzex team and demonstrates the high growth potential of our product offering,” said Larimer, CEO. “We look forward to partnering with Sole Source and OPI to continue growing, both organically and through strategic acquisitions, by delivering best-in-class, digital supply chain and mobile workforce solutions to our customers.”
“Our entire team is looking forward to working with Sole Source Capital and the Peak-Ryzex team to deliver an expanded breadth of products and services to our customers,” Rivers added.
Stifel served as the exclusive financial advisor to Peak-Ryzex and principals of Charter Capital Partners served as the exclusive financial advisor to Optical Phusion Inc.