Sole Source Capital has acquired Peak-Ryzex from Keystone Capital. No financial terms were disclosed. Based in Columbia, Maryland, Peak is a provider of automated data collection solutions.
Keystone Capital Successfully Exits Its Investment in Peak-Ryzex
Keystone Capital is pleased to announce that its portfolio company Peak-Ryzex, Inc. (Peak) has been acquired by Sole Source Capital, LLC. Terms of the transaction have not been disclosed.
Keystone originally invested in Peak in October 2011, a leading provider of automatic identification, data capture (“AIDC”) and factory automation solutions. Keystone and Peak subsequently completed six add-on acquisitions over the past nine years significantly growing the size of the business and establishing it as the industry leader. Peak represents another successful investment for Keystone within its Commercial and Industrial (C&I) Services efforts.
Founded in 1981, Peak delivers innovative automated data collection solutions to Fortune 500 customers along with small and medium-sized businesses, providing critical technology that allows businesses to become more efficient and responsive. Peak is a technology systems integrator of barcoding, data collection, and factory automation equipment, delivering innovative digital supply chain and mobile workforce solutions across North America and Europe. Peak is headquartered in Columbia, MD and has seven locations in the US and two in the U.K.
“We are extremely appreciative for the hard work, dedication and commitment from the Peak management team in building a market leading business and delivering a successful outcome for shareholders” commented Chaoran Jin, Managing Director of Keystone. “We wish the Peak management team the best for their new chapter with Sole Source.”
Juliann Larimer, Chief Executive Officer of Peak-Ryzex added, “Over the last 9+ years Keystone has been a true partner to Peak in every sense of the word, from sourcing acquisitions through helping to shore up our operations, enabling us to drive record profits and growth. As important, together we have built a “customer-first” culture that is ready to take the business to the next level, and our successful exit is a reflection of that partnership in action.”
Investment banking services were provided to Peak and Keystone by Stifel, Nicolaus & Company, Inc., and legal services were provided by Honigman LLP.
About Keystone Capital
Keystone Capital is a private investment firm based in Chicago, Illinois. Formed in 1994, its mission is to invest in and build a portfolio of exceptionally high quality, mid-sized businesses that are leaders in their markets. Keystone is differentiated by its investment of personal capital and investment horizon flexibility which has led to a distinguished track record of successfully entering into true long-term operating partnerships with the professional management teams of its companies.