PE-backed Supply Chain Services buys Coridian

Supply Chain Services, which is backed by Sole Source Capital, has acquired Minnesota-based Coridian Technologies Inc, a provider of product identification and data collection solutions for the healthcare, manufacturing, and warehouse/distribution industries.

Supply Chain Services, which is backed by Sole Source Capital, has acquired Minnesota-based Coridian Technologies Inc, a provider of product identification and data collection solutions for the healthcare, manufacturing, and warehouse/distribution industries. No financial terms were disclosed.

PRESS RELEASE

SANTA MONICA, Calif., Dec. 2, 2020 /PRNewswire/ — Sole Source Capital LLC (“Sole Source” or the “Firm”), an industrial-focused private equity firm providing capital to North American lower-middle market companies, today announced that its portfolio company, Supply Chain Services (“the Company”), a premier provider of automatic identification and data capture (AIDC) and factory automation solutions to customers across North America, has acquired Coridian Technologies, Inc. (“Coridian”), a leading provider of product identification and data collection solutions for the healthcare, manufacturing, and warehouse/distribution industries.

Headquartered outside of Chanhassen, Minnesota, Coridian is a best-in-class provider of innovative labeling, barcoding, data collection, and RFID solutions. Celebrating their 24th year in business, the Coridian team has over 300 years of combined experience providing innovative solutions from world-class auto-identification and labeling manufacturers such as Zebra Technologies, Brady, and Honeywell. Coridian’s solutions include labels, printers, scanners, software, mobile computers, and software development, as well as integration and service components.

Supply Chain Services, which was acquired by Sole Source Capital in May 2020, delivers innovative automated data collection solutions to nearly 3,000 customers, providing critical technology that allows businesses to become more efficient and responsive. Through this acquisition of Coridian, the Company expands its portfolio of high-quality products and customized solutions. This transaction marks the Firm’s third add-on transaction for Supply Chain Services following Dasco Label and Miles Data earlier this year.

“We are excited for Coridian to join the Supply Chain Services family,” said Michael Cleary, President and CEO of Coridian. “We are very proud of the company we have built over the past 24 years and know that partnering with the teams at Supply Chain Services and Sole Source Capital will help take Coridian to new heights.”

“This is a very exciting time for our organization and Supply Chain Services is thrilled to combine our collective expertise with the team at Coridian. Our two organizations are closely aligned in our values with absolute dedication to our customers, employees, and communities,” stated Dave Green, CEO of Supply Chain Services.

“We are very impressed with Coridian’s employees, service offerings, and the end-markets it serves,” said David Fredston, Managing Partner of Sole Source Capital. “We look forward to preserving the legacy that the Coridian team has built over the years and are excited to add their expertise to the Supply Chain Services organization.”

About Supply Chain Services
Headquartered in Oakdale, Minnesota, Supply Chain Services is a North American value-added reseller of barcoding and data collection solutions. As experts in data collection technology, the Company works to provide knowledgeable sales and information technology expertise to increase efficiency and productivity to a wide range of end markets such as food processing and distribution, grocery, healthcare, e-commerce, manufacturing, and logistics services. For more information, please visit www.supplychainservices.com/.

About Coridian
Headquartered in Chanhassen, Minnesota, Coridian delivers unprecedented value to manufacturing, warehouse/distribution, and healthcare companies by solving identification, tracking, and data collection challenges. Coridian’s solutions include labels, printers, data collection tools, software, and integration services backed with quality support to help others succeed.

About Sole Source Capital
Sole Source Capital is a private equity investment firm that brings a data-driven, operational approach to the lower-middle market. The firm executes a disciplined strategy that targets high-growth industrial sub-sectors including precision manufacturing, diversified distribution, and industrial services. Sole Source seeks to partner with strong management teams and founder-owned businesses that will benefit from the team’s operating and M&A capabilities. For more information, please visit http://www.solesourcecapital.com or contact investor.relations@solesourcecapital.com.