Vestar Capital Partners has acquired Mobile Technologies Inc. from Hammond Kennedy Whitney & Co. Inc. The target’s management is also partnering with Vestar on the deal. Financial terms were not disclosed.
MTI, based in Portland, Oregon, offers mobile device display technologies that provide merchandising security for consumer electronics and mobile enterprise applications allowing retailers to focus on products, sales and service, while security operates in the background. Customers have included Target Corp. (NYSE: TGT) and AT&T Inc. (NYSE: T).
“Demand for retail merchandising display technology and enterprise mobility has a high growth outlook,” says Vestar partner Robert Rosner.
TM Capital and Taft Stettinus & Hollister LLP advised MTI. Kirkland & Ellis LLP represented Vestar.