Sterling Partners Pays $109M for Innotrac
Sterling Partners is buying Innotrac Corp. (Nasdaq: INOC) for $109 million.
Atlanta-based Innotrac provides various commerce services, including digital technology integration, fulfillment and contact center, to global brands.
Chicago private equity firm Sterling manages more than $5 billion in capital. The firm focuses on middle market companies in the education, health care and business services sectors. In February, Sterling portfolio company Desert NDT LLC purchased T&K Inspection Inc. in February.
The purchase price works out to $8.20 per share in cash. The company’s shares were closed at $6.41 on Oct. 21, before the company started exclusive negotiations with Sterling Partners.