NewSpring Capital led a mezzanine investment in CODi, a maker of laptop computer carrying cases and accessories, the firm announced. Terms of the deal were not released. CODi is based in Harrisburg, Penn., and will use the new capital for expansion.
CODi is a provider of laptop computer carrying cases and mobile computer accessories to Fortune 500 companies. Headquartered in Harrisburg, PA, and founded in 1992, the Company initially designed and sold laptop computer carrying cases specifically for the corporations and their mobile professionals. In order to provide better service and faster delivery times, the Company opened domestic production facilities in 1996 through a separate, commonly owned corporation. The Company’s mobile computing accessory lines, including security locks, wireless mice, port replicators and power adaptors, allow CODi to bundle cases with other peripherals, providing corporate customers with a more complete product line and a more efficient procurement process.
“We welcome NewSpring to our Company, and appreciate the confidence they have demonstrated in our team and our strategy,” said James Bland, CEO of CODi Inc. “NewSpring’s support will help fuel our continued expansion and growth in the years to come.”
“CODi, Inc. is a terrific addition to the NewSpring Mezzanine portfolio. The Company has innovative products, a solid customer base and a strong management team,” said Steve Hobman, NewSpring General Partner. “We are happy to be in a position to support CODi as they continue to scale and strengthen their position as a market leader in the mobile computing accessory marketplace.”