CVC Credit ("CVC Credit") is pleased to have provided the debt facility to support Sole Source Capital’s acquisition of Peak-Ryzex ("Peak" or "the Company") and subsequent add-on acquisition of Optical Phusion, Inc. ("OPI"). The companies will be merged to create an enhanced market leader in automatic identification data capture ("AIDC") and factory automation solutions. CVC Credit will support the growth strategy for the combined business going forward through the provision of a delayed draw term loan facility.
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 fulfil and finalize transactions more quickly and easily.
Headquartered in Columbia, MD, Peak-Ryzex provides critical technology that allows businesses to become more efficient and responsive. The Company is a premier value-added reseller 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.
Based in Littleton, MA, Optical Phusion is a solution provider of AIDC hardware equipment and software solutions primarily to the grocery, pharmacy and retail end markets. OPI specialises 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.
Juliann Larimer, Chief Executive Officer, Peak-Ryzex, commented: "CVC Credit's support, in partnership with our new private equity sponsor, has already proven essential in getting the Optical Phusion acquisition across the line and will be equally important in the years ahead as we continue to grow the business."
Scott Sussman, Partner, M&A at Sole Source Capital, added: "The CVC Credit team understands our operating objectives and provides a seamless and reliable partnership day in and day out. We are very pleased to have secured their support for our growth ambitions at Peak-Ryzex."
Andrew Eversfield, Managing Director in CVC Credit's U.S. Private Debt business, said: "Peak-Ryzex has a robust and sustainable business model and a clear strategy for growth, we are excited to be able to support the Company. This is the second Sole Source Capital platform transaction we have partnered on in the last six months and we are pleased to again have the opportunity to team up with this high-quality sponsor."