September 6, 2012
The acquisition of printer components supplier Parts Now by Los Angeles-based private equity firm CounterPoint Capital Partners has been completed, with both companies speaking of the benefits that the acquisition will bring to the businesses.
CounterPoint Capital Partners focuses on acquiring lower to middle market companies in the US and Canada which see between $10 million and $200 million in annual revenues in order to implement structural and operational improvements that put companies on a successful trajectory.
Chris Iorillo, Managing Partner, CounterPoint Capital Partners commented: “This investment is a significant milestone for CounterPoint. Our hands-on, front-line approach and operating expertise allowed us to quickly work through a variety of challenging issues and close this deal on the timeline we promised – less than thirty days from our selection as the buyer.”
Speaking on behalf of Parts Now, Matt McLeish, Vice President of Sales and Marketing at the company said: “With CounterPoint’s financial commitment and operational support, Parts Now is well positioned for long-term growth and stability. Our day–to–day operations will remain the same and so will our dedication to providing our large and diverse customer base with solutions that enable them to win in their marketplaces.”
Meanwhile, Matthias Heilmann, CounterPoint partner and newly appointed CEO of Parts Now commented: “Parts Now has been at the forefront of its industry since its inception. We are very proud of the company’s authorized distributor status with our critical partners and will be making several strategic and operating improvements to strengthen and expand these key partnerships.”
Categories : Products and Technology