Supply Chain Services Acquires Coridian Technologies Inc.

On December 2, David Fredston, founder and managing partner of Sole Source Capital (SSC), and the wider SSC team made a landmark announcement. The firm’s portfolio company, Supply Chain Services, has acquired Coridian Technologies Inc. – a leading provider of product identification and data collection solutions for the healthcare, manufacturing, and distribution industries.

The move further enhances Sole Source Capital’s roster and strengthens its brand as a private equity firm focused on industrial companies in the lower-middle market. The deal adds to Supply Chain Services, a leading company in the field of automatic identification and data capture (AIDC) and factory automation solutions for customers in North America. Acquiring Coridian Technologies adds further services and improves the company’s overall offering to its loyal clientele across the country and further afield. As a major provider in this industry, Coridian Technologies is a premium and valuable asset.

Providing innovative labeling, barcoding, data collection, and RFID solutions, Coridian Technologies has become renowned for its high level of organization and service. Headquartered near Chanhassen, Minnesota, the trusted brand was founded 24 years ago and boasts more than 300 years of collective experience across the team.

Over the years, Coridian has become known for offering forward-thinking solutions, such as auto-identification and labeling manufacturers, including Honeywell and Brady. The company can fulfill a variety of customers’ needs, offering a full-service approach. Coridian’s remarkable roster includes services such as software, mobile computers, software development, scanners, printers, labels, and even integration and service components.

“We are excited for Coridian to join the Supply Chain Services family. We are very proud of the company we have built over the past 24 years and know that partnering with the teams at Supply Chain Services and Sole Source Capital will help take Coridian to new heights,” says Michael Cleary, president, and CEO of Coridian.

In May 2020, Sole Source Capital acquired Supply Chain Services in a milestone move. The company delivers innovative automated data collection solutions to almost 3,000 customers across the region. With critical technology and the most up-to-date systems, the company helps businesses become both more responsive and efficient in their day-to-day processes.

“This is a very exciting time for our organization, and Supply Chain Services is thrilled to combine our collective expertise with the team at Coridian. Our two organizations are closely aligned in our values with absolute dedication to our customers, employees, and communities,” says Dave Green, CEO of Supply Chain Services.

The acquisition of Coridian has allowed Supply Chain Services to expand its portfolio of high-end products and bespoke solutions for businesses. With David Fredston at its helm, SSC has helped the portfolio company build from strength to strength. This latest move is another sign that Supply Chain Services is on track to greater success in the months to come.

The addition of this highly sought-after business could add more value in the future for Coridian, as part of the company’s rapid growth. This is the firm’s third add-on transaction this year, following the acquisition of both Miles Data and Dasco Label, both of which took place earlier in 2020.

“We are very impressed with Coridian’s employees, service offerings, and the end markets it serves. We look forward to preserving the legacy that the Coridian team has built over the years and are excited to add their expertise to the Supply Chain Services organization,” says David Fredston, founder and managing partner of Sole Source Capital.

With this new addition, the future looks promising for Sole Source Capital and managing partner David Fredston. In recent months, there has been a huge surge in the areas of e-commerce and, as a result, shipping and warehouse services. As this sector continues to grow and expand globally, SSC is in a prime position to excel.

About Supply Chain Services
Supply Chain Services is a North American value-added reseller of data collection services and barcoding. The renowned company is headquartered in Oakdale, Minnesota, and the seasoned team includes experts in data collection technology.

The company provides insights on sales and information technology, which helps businesses boost both their productivity and efficiency. Supply Chain Services’ clients range from grocery and distribution to health care and e-commerce. Throughout 2020, the firm has continued to grow and acquire valuable businesses.

About Sole Source Capital
As a private equity investment firm bringing a data-driven, operational approach to the lower-middle market, Sole Source Capital LLC is a well-known name. The firm operates an effective strategy to swiftly target high-growth industrial sub-sectors, such as precision manufacturing and industrial services. Under the guidance of David Fredston, the company partners with strong management teams and founder-owned businesses.

About Coridian Technologies
With its headquarters in Chanhassen, Minnesota, Coridian Technologies offers sheer value to manufacturing, distribution, warehouse, and healthcare companies. The business offers efficient solutions in the world of tracking, data collection, and identification. With a full-service approach to business, the company’s wide range of services includes data collection tools, printers, labels, integration services, software, and more.