Crofton Capital announced Tuesday that it has acquired New York-based CognitiveTPG, a supplier of point-of-sale transaction and barcode printers. Capital partnered with DeltaPoint Capital Management and Boston Harbor Capital on the deal. Additional financing was provided by Pine Street Capital Partners. Terms of the deal were not released.
Crofton Capital, LLC, a growth private equity firm based in the Boston area, has acquired CognitiveTPG, LLC, an innovative supplier of point-of-sale transaction and barcode printers. Crofton Capitalpartnered with DeltaPoint Capital Management and Boston Harbor Capital in the transaction. Additional financing was provided by Pine Street Capital Partners.
CognitiveTPG traces its roots back to 1972 as the in-house thermal and impact printer group of NCR based in Ithaca, New York. Throughout its history, CognitiveTPG has developed several industry firsts, including the first thermal/impact hybrid printer with integrated check reading capability, the first two-color thermal printers, and the first desktop barcode label printer. The Company will continue to be led by its President and CEO, Kyle Turner.
“We were particularly attracted to CognitiveTPG’s terrific set of products and its excellent relationships with its OEM and integrator partners,” said Phil Ivey, Managing Director of Crofton Capital.”We are excited to work with Kyle and the management team to support the Company’s continued growth worldwide.”
CognitiveTPG President and CEO, Kyle Turner remarked, “We are looking forward to working with our investors as the economy picks up steam to build on the tremendous momentum we have achieved. We are delighted at the strong response of our customers to CognitiveTPG’s continued product excellence and focus on customer service.”
About Crofton Capital
Crofton Capital is a growth private equity firm based in the Boston area that invests in and provides strategic resources to small and midsize businesses. Acquisition candidates have annual revenues of up to $50 million and operating cash flow of $1 million to $5 million, and are based primarily in the northeast. Sectors of focus are niche manufacturing, value-added distribution, business services, software and technology-enabled services, and consumer products and services. For more information, visit www.croftoncap.com.
Headquartered in Ithaca, New York, CognitiveTPG is a supplier of high performance point-of-sale transaction and barcode printers to the retail, banking, self-service kiosk, healthcare, hospitality, automotive service, and manufacturing/logistics sectors worldwide. With a 35+ year history of innovation and engineering excellence in the thermal and impact printer market, CognitiveTPG printers are known for their rugged durability, quality performance, small footprint and ease of operation.