Industrial-focused private equity firm Sole Source Capital announced today that its portfolio company, Peak-Ryzex, a value-added reseller of barcoding and data collection solutions, has acquired Bar Code Direct.
The acquisition of Bar Code Direct adds to Peak’s ability to serve its expanding array of client segments and is Sole Source’s third add-on transaction for Peak-Ryzex, following the purchase of Optical Phusion Inc. (OPI) and Inovity Inc. earlier this year. Terms of the Bar Code Direct transaction were not disclosed.
Headquartered in North Grafton, MA, Bar Code Direct is a value-added reseller of AIDC solutions for the manufacturing, retail, consumer, and healthcare end-markets. Since 1994, Bar Code Direct’s solutions have increased productivity for warehouse workers, freight truck drivers, field service technicians, in-store associates, package delivery and sales personnel.
Peak-Ryzex supplies industry-leading automated data collection solutions to Fortune 500 customers along with small and medium-sized businesses that enables them to become more efficient and responsive to their customers. The acquisition of Bar Code Direct allows Peak-Ryzex to continue strengthening its solutions portfolio for in premise supply chain operations while expanding capabilities into fast-growth markets like health care and field-based mobility applications. Bar Code Direct Co-Founders Chris and Ash Richardson will join the Peak-Ryzex team.
“We are very excited to join Peak-Ryzex, which will provide us with access to additional resources, scale and expand our geographic coverage to continue helping our customers meet their business challenges,” said Chris Richardson, President of Bar Code Direct. “In addition, we would like to thank the Sole Source team for their strong collaboration and commitment throughout the process to get the transaction completed.”
“Bar Code Direct is another perfect fit for the Peak portfolio, with its unwavering commitment to high levels of service for its customers and a deep appreciation for its talented employees. Bar Code Direct will provide us with new capabilities in adjacent markets that when combined with our two previous new portfolio companies, OPI and Inovity, enables us to continue to build an unrivaled platform in the AIDC industry,” said Juliann Larimer, President and CEO of Peak-Ryzex.
“Bar Code Direct has a proven, strong commitment to providing innovative solutions from a team of experienced and knowledgeable resources—and will be a great complement to the Peak portfolio, strengthening our coverage and capabilities in the Eastern U.S.,” said Dewey Turner, Partner, President of Operations at Sole Source Capital.
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May 19, 2021 at 12:32AM
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Sole Source-backed Peak-Ryzex acquires Bar Code Direct - Modern Materials Handling
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