Barcode, a developer of automatic identification and data capture products, has been acquired by middle-market private equity firm Odyssey Investment Partners.
This deal sees its previous owner Cortec Group, a New York-based private equity firm, sell its stake which it initially bought in 2012.
During the holding period, Barcodes was able to grow its suite of products and services offered, as well as its customer base and international presence.
Chicago-based Barcodes designs and distributes automated identification and data capture products such as barcode scanners, POS systems, mobile computers, asset tracking software and inventory software. A range of POS terminals are available to retailers, to ensure everyone can find a solution that meets their needs.
The company also builds identification cards and access management solutions. Businesses can use the company to develop ID cards and digital identification solutions which help to verify the identities of employees or customers.
David Schnadig managing partner Cortec said, “Our investment in the business over the last six years to expand Barcodes’ leadership team, build the sales organization, enhance its eCommerce capabilities, improve systems, and complete several strategic acquisitions has enabled management to significantly grow the Company’s revenue and earnings.”
Some of the other companies in Odyssey Investment Partners’ portfolio include claims management company York Insurance Services, specialty insurance and benefits brokerage platform integro, and staffing platform Addison Group, among others.
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