Odyssey Investment Partners has acquired L-com, a provider of wired and wireless connectivity products to original equipment manufacturers, system integrators and network installers.
Financial terms of the transaction were not disclosed.
Headquartered in North Andover, Massachusetts, 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.
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 catalogue, e-commerce website and dedicated sales forces, as well as through distribution partners.
Randy Paulson, a managing principal of Odyssey, says: "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, says: "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, The Governor and Company of the Bank of Ireland, and Newstone Capital Partners provided debt financing for the transaction.
