Odyssey Investment Partners Acquires L-com
NEW YORK, July 26, 2012 — Odyssey Investment Partners, LLC announced today that it has acquired L-com, Inc., a leading provider of wired and wireless connectivity products to original equipment manufacturers, system integrators and network installers across diverse end markets. Financial terms of the transaction were not disclosed.
Headquartered in North Andover, Massachusetts, L-com is a leader in the low-volume, high-service segment of the broader connectivity market, which represents an estimated $2.5 billion in global sales annually. L-com’s customers are typically design and network engineers who are responsible for specifying connectivity equipment into mission-critical applications. L-com offers over 10,000 SKUs across a broad range of product categories — including cable assemblies and connectors, wireless local area network access points, and associated RFID support products — representing one of the most extensive and differentiated portfolios of immediately available products in the industry. L-com has manufacturing and sales facilities in Suzhou, China, Boca Raton, Florida and North Andover, MA and its products are sold directly to end users through its printed catalog, e-commerce website and dedicated sales forces, as well as through distribution partners. By maintaining control over its manufacturing and go-to-market organizations, L-com ensures that it provides unique product solutions, high product quality and outstanding customer service.
Randy Paulson, a Managing Principal of Odyssey, said, “L-com is a strong platform poised for solid growth in the coming years. The Company has combined outstanding in-house manufacturing operations and customer service with a sophisticated multi-channel marketing strategy to provide customers high-quality connectivity products. We are excited to work with L-com’s strong and experienced management team to expand the Company’s leading market position through organic initiatives and strategic acquisitions.”
Ed Caselden, President and Chief Executive Officer of L-com, said, “We are delighted to partner with Odyssey to continue to provide our customers with the excellent service and innovative wired and wireless connectivity solutions they expect. At the same time, Odyssey’s support will enable L-com to continue executing our growth strategy by expanding and accelerating the development of new products and pursuing acquisitions that will offer improved application performance in the broader connectivity market.”
General Electric Capital Corporation, CIT Finance LLC, The Governor and Company of the Bank of Ireland, and Newstone Capital Partners, LLC provided debt financing for the transaction.
Contact:
Mark Semer or Donald C. Cutler
Kekst and Company
(212) 521-4800 or (415) 852-3900
About L-com
L-com, a global designer and manufacturer of wired and wireless connectivity products, offers a wide range of solutions and unmatched customer service for a diverse set of end markets. The Company's product portfolio includes cable assemblies, connectors, adapters, industrial networking components, and custom connectivity products, as well as a broad line of wireless products. Trusted for more than 30 years, L-com, Inc. is headquartered in North Andover, Mass., and is ISO 9001: 2008-certified. For more information, please visit: www.L-com.com
About Odyssey Investment Partners
Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, is a leading middle-market private equity firm with approximately $2.5 billion under management. Odyssey Investment Partners primarily makes control investments typically in established middle-market companies in a variety of industries. For further information about Odyssey Investment Partners, please visit www.odysseyinvestment.com. The firm can be reached in New York at 280 Park Avenue, New York, NY 10017 or (212) 351-7900; and in California at 21650 Oxnard Street, Woodland Hills, CA 91367 or (818) 737-1111.