BARCODES, INC. ANNOUNCES INVESTMENT BY ODYSSEY INVESTMENT PARTNERS
CHICAGO, January 23, 2019 – Barcodes, Inc. announced today that Odyssey Investment Partners, LLC invested in the Company to acquire it from Cortec Group. Financial terms of the transaction were not disclosed.
Headquartered in Chicago, Barcodes is a leading solution provider of products, software, and services used to automate the supply chain. The Company’s solutions enable businesses to digitally capture and act on data related to their assets, people, and transactions. Barcodes has historically sold to small and medium-sized businesses, and more recently, is also serving large enterprises in the design, deployment, and support of supply chain automation. The Company’s products, which include barcoding, RFID, mobile devices, networking, and related technology peripherals, enable customers to improve productivity and the customer experience in their businesses. To deploy and maintain these devices, Barcodes offers value-added services including system design, configuration, integration, and technical support services. For more information on, please contact us.
CEO Daniel Nettesheim and the management team will continue to lead the business under Odyssey’s ownership and have invested in the transaction. Mr. Nettesheim has been an owner of the business since 2005.
Mr. Nettesheim said: “The Company continues to provide the latest technology and services to make it easy for our customers to quickly automate and improve their operations and customer experiences. Cortec has played a critical role in funding our investments and helping us to drive strategic growth. We are excited to now partner with Odyssey given their experience and track record of driving growth in market leading companies.”
Craig Staub, a Managing Principal of Odyssey, said: “Barcodes has built leading platforms in highly fragmented and growing markets, and is led by a deep and experienced leadership team. We are excited to pursue an aggressive growth strategy to capitalize on Barcodes’ unique business model, incorporating industry leading websites, deep technical expertise and value-added professional services.”
About Barcodes, Inc.
Barcodes, Inc. with corporate offices across the U.S., Canada, and the U.K., is a leading information technology solution provider with more than a 20-year history of providing products and services to automate businesses. Barcodes has partnered with private equity firms to leverage their capital and experience to drive strategic growth.
For more information contact:
Lorna Malja, Marketing Manager
312.582.4893
Cortec Group Announces the Acquisition of BarcodesInc
Cortec Group, a New York based private equity firm which invests in middle-market distribution, healthcare, consumer, and specialty products and service businesses, announced that on November 2, 2012 its affiliate, Cortec Group Fund V, L.P. , acquired Barcodes Inc in partnership with management. Terms of the transaction were not disclosed.
Headquartered in Chicago, Illinois, Barcodes is a leading distributor of automatic identification capture (“AIDC”) products, selling primarily to small and medium-sized businesses and select Fortune 500 customers. The Company’s AIDC products, which include barcode scanners, mobile computers, label printers, point-of-sale systems, identification cards, RFID equipment, and other related consumable products, allow customers to improve productivity and profitability in their businesses. Barcodes maintains strong relationships with many of the premier manufacturers in the industry, and effectively couples a strong web-site presence with technical sales capabilities to serve its customers.
