Sole Source Capital Buys Peak-Ryzex and Optical Phusion
April 12, 2021
Source Capital bought Peak-Ryzex from Keystone Capital and Optical Phusion Inc.
(“OPI”) from its founders, two leading providers of automatic identification,
data capture (“AIDC”) and factory automation solutions. The companies will be
merged and led by Peak-Ryzex CEO Juliann Larimer, CFO Michele Adams and OPI
President Tony Rivers.
Terms of the transactions were not disclosed.
The combination will yield significant technological and operational synergies
as well as deliver enhanced cross-selling opportunities to a broad set of
clients ranging from small and medium sized businesses to Fortune 500
companies—all seeking supply-chain logistical support. Peak Ryzex’s position
will be further enhanced by OPI’s self-service kiosk, enterprise mobility and
wireless technology integration expertise, which allows its clients to fulfill
and finalize transactions more quickly and easily.
These transactions mark Sole Source’s 5th and 6th investments in the AIDC space,
following the purchase of Supply Chain Services and add-on investments after the
acquisition of Dasco Label, Miles Data and Coridian.
“These two acquisitions are a natural fit with our investment thesis, as we are
a thematically-driven firm and automation is a strong area of focus. The AIDC
market is both highly fragmented and has strong industry tailwinds,” said David
Fredston, Founder and Managing Partner of Sole Source Capital. “We are confident
in the cultural fit between Peak-Ryzex and OPI, and we are excited to pool our
collective resources in the pursuit of building a larger, forward-thinking
business to grow with the increased digitization of the supply chain.”
“This investment is a testament to the hard work of the Peak-Ryzex team and
demonstrates the high growth potential of our product offering,” said Ms.
Larimer, CEO of Peak-Ryzex. “We look forward to partnering with Sole Source and
OPI to continue growing, both organically and through strategic acquisitions, by
delivering best-in-class, digital supply chain and mobile workforce solutions to
“Our entire team is looking forward to working with Sole Source Capital and the
Peak-Ryzex team to deliver an expanded breadth of products and services to our
customers,” Mr. Rivers, President, OPI, added.
in 1981, Peak-Ryzex 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. The Company is a premier value-added reseller (“VAR”) of barcoding,
data collection, and factory automation equipment, delivering innovative digital
supply chain and mobile workforce solutions across North America and Europe. The
Company provides knowledgeable sales and information technology expertise to
customers purchasing AIDC equipment across multiple end markets including food
processing/distribution, grocery, healthcare, e-commerce, industrial and
manufacturing, among others. Peak is headquartered in Columbia, MD and has seven
locations in the US and two in the U.K.
Established in 2004, OPI is a founder-owned solution provider of AIDC hardware
equipment and software solutions primarily to the grocery, pharmacy and retail
end markets. OPI specializes in helping customers solve business challenges and
manage the entire lifecycle of supply chain solutions such as e-commerce, click
and collect, interactive kiosk, personal shopping solutions, RFID, mobility, and
wireless technology projects. OPI is headquartered in Littleton, MA.
Stifel served as the exclusive financial advisor to Peak-Ryzex and Principals of
Charter Capital Partners served as the exclusive financial advisor to Optical