Thompson Street Capital Partners said Tuesday that it sold its majority stake in BarcodesInc to the Cortec Group. Financial terms weren’t announced. Chicago-based BarcodesInc provides barcoding, mobile computing and radio-frequency identification solutions.
Thompson Street Capital Partners (TSCP) announced that on
November 2nd, it sold its majority stake in BarcodesInc of Chicago to Cortec Group Fund V, L.P., an
affiliate of Cortec Group, a New York-based private equity firm. Terms of the transaction were not
BarcodesInc specializes in barcoding, mobile computing and radio-frequency identification solutions
and related technologies. The company employs a unique, technology-enabled platform and has
become a leading solutions provider of automatic identification and data tracking products and
services in North America.
In mid-2010, Thompson Street acquired a majority stake in BarcodesInc, partnering with
management and BarcodesInc’s previous owner, Dixon Midland Company, both of which retained
According to Neal Berman, TSCP Managing Director, “BarcodesInc was another very successful
investment for us. The company offered an exciting opportunity to combine forces with its dynamic
management team and Dixon Midland. We worked with the company on a variety of effective
initiatives that helped fuel growth. BarcodesInc is in a great position for continued success.”
“We had worked previously with some of the principals at Thompson Street, so it was natural for us
to partner with them on this transaction,” said Paul Furlow, co-president of Dixon Midland
Company. “Together with Thompson Street, we have helped strengthen BarcodeInc’s position as a
leading critical technology solutions provider for a diverse, growing customer base.”
Said Dan Nettesheim, CEO of BarcodesInc, “Thompson Street proved to be a valuable partner for us,
helping us develop and pursue a comprehensive yet focused growth strategy. We’ve enjoyed working
with the Thompson Street team and now are eager to continue our success with our new partners at
Thompson Street Capital Partners (www.tscp.com) is a St. Louis-based private equity firm with
more than $800 million in capital under management. Founded in 2000, the firm invests in growing
niche-leading service, manufacturing and distribution businesses via recapitalizations, management
buyouts, corporate divestitures, family businesses in transition and take-private transactions.
Dixon Midland Company (www.dixonmidland.com) is a private investment firm that acquires and
manages growth-oriented companies. The firm strives to invest in a limited number of businesses so
that it can spend substantial amounts of time helping each business grow.
Cortec Group (www.cortecgroup.com) was founded in 1984 and acquires high value-added,
middle-market distribution, healthcare, consumer, and specialty products and service businesses from
owners and management teams who want to work with Cortec to drive growth and improve business
fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform
acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions.