The mobile technology providers Peak-Ryzex and Optical Phusion Inc. will merge into a single company after both being acquired by a private equity firm this week, setting the stage to combine their capabilities in providing automatic identification and factory automation to companies seeking supply chain logistical support.
Terms of the deals were not disclosed. But Sole Source said the merged companies will be led by current Peak-Ryzex CEO Juliann Larimer and CFO Michele Adams and by OPI President Tony Rivers.
Sole Source said the transactions mark its fifth and sixth investments in the automatic identification, data capture (AIDC) sector, following its 2020 purchase of Oakdale, Minnesota-based Supply Chain Services, which then acquired Dasco Label, Miles Data, and Coridian.
According to Sole Source, the new combination will provide “technological and operational synergies” and cross-selling opportunities. More specifically, Columbia, Maryland-based Peak Ryzex’s position will be enhanced by Littleton, Massachusetts-based OPI’s self-service kiosk, enterprise mobility, and wireless technology integration expertise, the firm said.
“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,” David Fredston, founder and managing partner of Sole Source, said in a release. “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.”