ISG Technologies Acquired by Supply Chain Services

Charter Capital Partners served as exclusive M&A advisor to ISG Technologies

News provided by

Jul 08, 2021, 09:00 ET

GRAND RAPIDS, Mich., July 8, 2021 /PRNewswire/ -- Charter Capital Partners, a Grand Rapids, Michigan-based investment bank, today announced that its client, ISG Technologies, has been acquired by Supply Chain Services, a portfolio company of Sole Source Capital. The acquisition adds to Supply Chain Services' product portfolio and expands its geographic reach into Texas. Charter Capital Partners principals served as exclusive M&A advisor to ISG Technologies.

Headquartered in Arlington, Texas, ISG is a value-added reseller of AIDC hardware and provider of managed mobility services. ISG serves blue chip customers across a variety of end markets including food and beverage distribution, retail, entertainment, warehousing, and logistics. Since 1995, ISG Technologies has provided its customers the ability to outsource their entire mobile device management operations.

Supply Chain Services delivers innovative, automated data collection solutions to nearly 3,000 customers, providing critical technology that allows businesses to become more efficient and responsive. The company was acquired by Sole Source Capital in May 2020, with Charter Capital Partners serving as M&A advisor to Supply Chain Services. Through the acquisition of ISG Technologies, Supply Chain Services will continue to grow its range of data collection solutions for clients, underscoring its technology-driven product leadership and unparalleled commitment to high quality customer service.

"We are very excited to welcome ISG Technologies to our team," said Dave Green, CEO of Supply Chain Services. "This partnership broadens our product and service offerings as we continue to strive to provide best-in-class service to our customers."

"The AIDC industry is benefitting from secular tailwinds driven by the continued focus on integrated supply chains, and the growth of smart, connected devices" said Scott Sussman, CIO at Sole Source Capital. "ISG's end-to-end service capabilities and commitment to providing bespoke solutions for its customers make it an ideal fit for Supply Chain Services."

The transaction was executed by Charter team members Mike Brown, Partner and Managing Director, and Justin Pinto, Associate. "This is our fourth recent transaction in the AIDC space, and we look forward to continue providing our M&A expertise to business owners within the industry," said Brown. "Having served as M&A advisor to Supply Chain Services in its acquisition by Sole Source Capital, we realized right away that ISG would be a great fit. We are excited to see the synergies that the acquisition provides."

"We knew that Mike and Justin had significant AIDC industry expertise and could help match us with the best platform to take ISG to the next level," stated Ben Cronin, CEO, ISG Technologies. "We couldn't be more thrilled to join the Supply Chain Services team and provide our customers with an unmatched level of data collection solutions."

"The Charter team was very attentive throughout the entire process and made sure that all parties involved were able to achieve their goals," added Mackey Cronin, President, ISG Technologies. "We look forward to this next chapter for ISG and are excited to join forces with Supply Chain Services as the newest addition to the Sole Source Capital portfolio."

The transaction was performed by principals of Charter acting in their capacity as registered representatives of M&A Securities Group, Inc., Member FINRA/SiPC, a separate entity from Charter Capital Partners.

About Charter Capital Partners
In operation since 1989, Charter Capital Partners is a premier investment banking firm headquartered in Grand Rapids, Michigan. Charter offers a comprehensive range of investment banking and private capital investing advisory services, including buy-side and sell-side M&A, succession planning, business valuation and capital raise. Charter Private Capital Management is a Registered Investment Adviser (RIA), professionally managing numerous private capital funds, including Charter Growth Capital Fund, Michigan Accelerator Fund I, MAF Opportunity Fund, and multiple Special Purpose Entities. To learn more, visit chartercapitalpartners.com.

About Sole Source Capital
Founded in 2016, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team's operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy and build strategy with significant downside protection. The Firm is headquartered in Santa Monica, California. For more information, please visit solesourcecapital.com.

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 supplychainservices.com.

About ISG Technologies
Established in 1995, ISG is a global managed mobility services provider working with customers in a range of industries including food and beverage distribution, retail, entertainment, warehousing and logistics. With offices in Arlington, Texas and Baltimore, Maryland, ISG offers customers the ability to outsource their entire mobile device management operation. The Company helps customers boost productivity and cut operating costs by designing, deploying, managing and servicing barcoding, data collection, wireless, and mobile technology devices and solutions. ISG is headquartered in Arlington, TX. For more information, please visit isgtechnologies.com.

For more information, please contact:
Zachary Mizener
Lambert & Co.
(616) 233-0500
[email protected]

SOURCE Charter Capital Partners