Private equity firm Teakwood Capital has acquired staff paging and management systems specialist Long Range Systems Inc (LRS).
LRS is best known for its patented “coaster pager” that most people have received when waiting for a table or an order at a restaurant. LRS currently serves customers across twenty industries, from restaurants, hospitals, daycares, and amusement parks to churches and retirement homes. LRS has millions of devices deployed globally at approximately 75,000 locations. The Company has offices in ten countries spread across six continents.
LRS systems demonstrate fast payback and high return on investment by delivering streamlined operations, improved service, and increased sales. The Company’s initial set of products help businesses manage the flow of customers and visitors waiting for service. The newest product, Table Tracker, connects service needs with service provisioning with pinpoint accuracy, extending LRS efficiency gains by closely managing the flow of product or service delivery.
"Teakwood has broad experience identifying companies delivering clear operational savings through technology enabled products and services. We were impressed with LRS’s patent portfolio and their leading market position. With expertise and capital provided by Teakwood, combined with Long Range Systems’ superb history of innovation, we are confident that the Company will continue to grow the topline at above-market rates” says Shawn Kelly (pictured), Managing Director of Teakwood Capital. Kelly continued, “This acquisition adds to Teakwood’s portfolio of companies with innovative technology and strong management teams delivering proven solutions, operational efficiencies and high return-on-investment.”
