PE-backed Barcodes acquires Plasco

Barcodes Group, a portfolio company of Odyssey Investment Partners, has acquired Miami, Florida-based Plasco ID Holdings LLC, an online lead generation and distribution business. No financial terms were disclosed. BlackArch Partners LLC advised Plasco on the deal while BV Investment Partners was financial adviser.

PRESS RELEASE

CHARLOTTE, N.C. (PRWEB) SEPTEMBER 03, 2019
BlackArch Partners LLC (“BlackArch”) is pleased to announce that Plasco ID Holdings, LLC (“Plasco” or the “Company”) has been acquired by Barcodes Group (“Barcodes”), a portfolio company of Odyssey Investment Partners (“Odyssey”). The combination of Plasco and Barcodes represents a natural fit of the two firms’ business models and creates a market leader in automatic identification and data capture, ID and access control solutions to small, medium and enterprise clients.

BlackArch was retained by Plasco and its financial partner, BV Investment Partners (“BV”), as its exclusive financial advisor.
Plasco, based in Miami, FL, is an online lead generation and distribution business serving the identification and access control industry, a market that includes: (i) identity and access control products such as identification printers, software, and cameras; (ii) related consumables such as blank ID cards and printer ribbons; and (iii) technical support services. Plasco sells identification products through its direct sales force, value-added distribution partners and award-winning websites.

In 2014, Plasco partnered with BV to facilitate the expansion and depth of its customer base, drive new product development, augment senior leadership and drive organic growth. Further, management also was intrigued at utilizing M&A as a tool to supplement a robust organic growth plan. The partnership proved to be a model of success on each of these metrics, as well as the non-economic goals of management. Summing up the strategic events of 2014 and 2019:

“We leaned on BlackArch to help us find a partner in 2014 and they delivered. BV has been a great partner and instrumental in helping us fulfill our growth vision. Reflecting on our most recent interactions, the BlackArch team is simply expert in understanding our business model and our sectors. They also immerse themselves in our business and our data ensuring no stone went uncovered and had us prepared every step of the way. There were no surprises and that’s the way we like it. Most importantly, they managed to exceed the already high bar we set for them in representing us a second time,” said Alan Mendelson, Chief Executive Officer of Plasco.

“BlackArch met every expectation for us and for the Company,” said Justin Harrison, Managing Partner of BV Investment Partners. “We selected BlackArch for their deep sector expertise, strategic buyer knowledge and reputation for creative execution excellence. The team’s hands-on approach and ability to articulate the Plasco story provided a level of service we rarely find in the middle market.”

The transaction continues BlackArch’s strong transaction activity in the technology-enabled business services and distribution sectors. John Conklin said of the transaction, “Plasco is rare in that it serves customers across multiple go-to-market channels from ecommerce, technical sales, direct subscription software to services. They have refined and innovated this model over decades, but our job is to distill the business into its key components, demonstrate why it is special, and provide great data and information so our client and prospective partners can make sound strategic decisions. This is an outcome where I believe both Plasco and Barcodes can say that we achieved this objective and in many ways these two businesses were clearly meant to be together.”

About BV Investment Partners
BV Investment Partners is currently investing its ninth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested $3.5 billion, actively targeting investments in the business services, software and IT services industries.

About Barcodes Group
Barcodes Group, headquartered in Chicago, IL and with corporate offices across the U.S., Canada, and Europe, is a leading information technology solution provider with more than a 25-year history of business automation. The company’s solutions encompass automatic identification and data capture (“AIDC”) products and services (e.g., barcode scanners, mobile devices, label printers, point-of-sale systems, and related consumable products, software, and integration services) and identification card and access control (“ID”) products and software.

About Odyssey Investment Partners
Odyssey Investment Partners, LLC with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 20 year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified business with strong growth profiles. Odyssey makes majority controlled investments in industries with a long-term positive outlook and favorable secular trends.

About BlackArch Partners
BlackArch Partners is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of owner operators, founders and shareholders of private companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, North Carolina, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors; BlackArch professionals have closed more than 350 transactions in 16 countries on four continents. Please visit our website, http://www.blackarchpartners.com, for more details.