Peak-Ryzex and Optical Phusion will be merged to create a single provider of 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.
Headquartered in Columbia, MD, Peak-Ryzex is a value-added reseller (VAR) of barcoding, data collection and factory automation equipment. The company provides 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.
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.
“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,” Juliann Larimer, CEO of Peak-Ryzex, said.
“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,” Scott Sussman, partner of M&A at Sole Source Capital, 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,” Andrew Eversfield, managing director in CVC Credit’s U.S. private debt business, said. “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.”