Sole Source Capital LLC, an industrial-focused private equity firm, announced that its portfolio company, ID Images (IDI), a premier provider of product identification solutions, has acquired Summit Labels and Precision Label in separate transactions. The acquisitions bring the total number of add-on investments for IDI to seven since becoming a Sole Source Capital portfolio company in August 2021, with the company’s most recent acquisition of Hickman Label announced just last month. Terms of the transactions were not disclosed.
Jointly owned Vancouver, Canada-based Summit Labels and Calgary, Canada-based Precision Labels are both manufacturers of prime labels for the food & beverage, industrial, and nutraceutical end markets. The companies’ Canadian facilities expand IDI’s presence across Canada while increasing its exposure to digital printing and prime label offerings. In addition, the companies' design and marketing teams often collaborate with clients to help create branding strategies through custom labeling.
“The teams at Summit and Precision have done an outstanding job creating a best-in-class prime label business,” said Dewey Turner, partner and president of operations at Sole Source Capital. “We look forward to adding their strong digital and flexographic capabilities to the IDI platform.”
“These acquisitions augment our prime labeling capabilities with high-quality digital and flexo expertise, expanding the IDI footprint throughout Canada,” said Jeff Fielkow, president and CEO of IDI. “Our new partners share our spirit of customer-centric focus and collaboration, offering customized label solutions to support our customers’ innovation and growth.
“We are pleased to announce the partnership with ID Images and Sole Source,” said Matt Sauder, president of Summit Labels and Precision Label. “There is a clear fit between the companies, and we expect this relationship to bring value to our employees, customers and stakeholders.”
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