Charter Capital Partners served as exclusive M&A advisor to Supply Chain Services in its acquisition by Sole Source Capital, an industrial-focused private equity firm providing capital to North American lower-middle market companies.
Founded in 2002, Supply Chain Services is a premier provider of automatic identification and data capture (AIDC) and factory automation solutions to customers across North America. The company delivers innovative automated data collection solutions to nearly 2,000 customers. The company partners with top-tier industry suppliers to offer solutions such as mobile computers, robotics, and RFID, automating the supply chains of high-growth industries such as food processing and distribution, grocery, health care, e- commerce, manufacturing, and logistics services.
The transaction followed the implementation of a succession plan that enabled former owner Chip Emery to retire from the company while ensuring that a strong management team would remain to operate the company. Dave Green, Supply Chain Services’ Chief Operating Officer, will assume the role of Chief Executive Officer. “I’m delighted to hand over the reins to this accomplished new team,” said Emery. “I’m confident that Dave’s leadership, combined with Sole Source’s deep understanding of the AIDCspace, positions Supply Chain Services for strong continued growth.”
“It was a great experience advising Chip through the process to find the best buyer for the company that he has put his heart and soul into for the past 10 years,” said Mike Brown, Partner and Managing Director, Charter Capital Partners. “The implementation of the succession plan made a huge impact on the success of the transaction and Sole Source will be an excellent partner for the management team to build on the company’s positive momentum.”
"The guidance of the Charter team was instrumental to the success of this transaction," added Green. "They worked hard to make sure we made it to the finish line, even in the middle of a pandemic, so I am truly grateful for their expertise."
“With the increasing reliance on digital technology, automated data capture has become critical to our economy as companies look for ways to improve their supply chains and become more efficient and responsive,” said David Fredston, Managing Partner of Sole Source Capital. “Supply Chain Services’ differentiated approach, mission critical products, and value-added consulting services have positioned the company as a leader in this growing industry. With an experienced management team, devoted customer base, and acquisition-ready infrastructure, we believe that Supply Chain Services is poised to capitalize on a range of compelling opportunities for continued growth.”
“This investment is a testament to the tremendous efforts and hard work of the Supply Chain Services team and demonstrates the high growth potential of our platform,” said Green. “I look forward to taking on the role of CEO as we partner with Sole Source to continue growing, both organically and through strategic acquisitions, while continuing to ‘Help Our Customers Operate Better’ across North America.”
Charter team members Mike Brown, Partner and Managing Director, and Justin Pinto, Associate, worked with Supply Chain Services throughout the process. Read more at PR Newswire