Vestar Capital Partners, in partnership with management, has acquired Mobile Technologies Inc (MTI), a provider of mobile device security and display technologies, from Hammond, Kennedy, Whitney & Company (HKW).
Terms of the deal have not been disclosed.
Founded nearly 40 years ago, MTI operates in three business segments: Retail Merchandising (solutions that display, power, and secure mobile devices within the retail environment); ArmorActive (engineered solutions that empower tablets and smartphones for enterprise mobility and connectivity applications); and Global Services (installation, preventive maintenance, on-demand break-fix, and contact centre services to support businesses’ retail and enterprise mobile device deployments worldwide).
“Vestar’s financial resources and strategic expertise will help MTI capitalise on its exciting growth opportunities, while continuing to meet and exceed the expectations of our valued customers,” says Chris Remy, president and chief executive officer of MTI. “Our partnership with HKW has established MTI in these markets. Going forward, Vestar will enable us to accelerate our progress towards becoming the global leader by further investing in innovation, product development, and service capabilities.”
“We’re confident that our new partnership with Chris Remy and his outstanding management team will lead to new levels of growth and profitability for MTI,” says Robert Rosner, co-president and founding partner of Vestar. “Demand for retail merchandising display technology and enterprise mobility has a high growth outlook, and within that marketplace, MTI offers the only global, device-agnostic, turnkey solutions platform. This unique position, coupled with an outstanding management team, has primed the company to take full advantage of the dynamic expansion opportunities at hand.”
Kirkland & Ellis served as legal adviser to Vestar. Taft Stettinius & Hollister served as legal adviser to MTI, and TM Capital served as financial adviser.
