Teakwood Capital, the Texas-based private equity firm, is acquiring Long Range Systems, the staff paging and management company. Specifics of the deal were not publicized. Long Range Systems is also based in Texas.
Teakwood Capital is pleased to announce today the acquisition of Long Range Systems Inc., (“LRS”), a leading innovator in customer and staff paging and management systems.
Long Range Systems Inc, http://www.pager.net, delivers paging solutions that drive operational efficiencies. They are best known for their patented “coaster pager” that most people have received when waiting for a table or an order at a restaurant. LRS currently serves customers across twenty industries, from restaurants, hospitals, daycares, and amusement parks to churches and retirement homes. LRS has millions of devices deployed globally at approximately 75,000 locations. The Company has offices in ten countries spread across six continents.
LRS systems demonstrate fast payback and high return on investment by delivering streamlined operations, improved service, and increased sales. The Company’s initial set of products help businesses manage the flow of customers and visitors waiting for service. The newest product, Table Tracker, connects service needs with service provisioning with pinpoint accuracy, extending LRS efficiency gains by closely managing the flow of product or service delivery.
“Teakwood has broad experience identifying companies delivering clear operational savings through technology enabled products and services. We were impressed with LRS’s patent portfolio and their leading market position. With expertise and capital provided by Teakwood, combined with Long Range Systems’ superb history of innovation, we are confident that the Company will continue to grow the topline at above-market rates” said Shawn Kelly, Managing Director of Teakwood Capital. Kelly continued, “This acquisition adds to Teakwood’s portfolio of companies with innovative technology and strong management teams delivering proven solutions, operational efficiencies and high return-on-investment.”
Teakwood Capital, a Dallas, Texas private equity firm, was founded in 2005. The firm provides the resources and experience to support management teams in buying and building industry leading companies. Teakwood invests equity capital primarily in businesses with under $3.0 million of EBITDA and typically in technology enabled business-to-business companies. The Firm focuses on management buyouts as well as control growth equity investments in companies in Texas and neighboring states and is actively investing.