“We are thrilled to be partnering with BV” said Alan Mendelson, President and CEO of Plasco. “We are confident in the BV team’s ability to help us facilitate and execute our growth initiatives."
Miami, FL (PRWEB) December 18, 2014
The Plasco Group, which includes Plasco ID, ID Wholesaler and ID Zone (“Plasco”), announced today that it has received an investment from BV Investment Partners (“BV”), a middle-market private equity firm focused on the information, business services and communications sectors.
Founded in 1983, Plasco is the leading supplier of card-based identification solutions. Through its direct sales force, distribution partners, and award-winning websites, IDWholesaler.com and IDZone.com, Plasco sells and supports ID card printing systems, software, cameras, technology cards, as well as related consumables to countless vertical markets. Plasco has served over 100,000 customers in the United States and internationally, including many Fortune 500 companies, and has been named to the Internet Retailer Top 500 list for six consecutive years.
“We are thrilled to be partnering with BV” said Alan Mendelson, President and CEO of Plasco. “BV immediately understood the challenges and the opportunities in growing a closely held company such as ours. We are confident in the BV team’s ability to help us facilitate and execute our growth initiatives. The partnership will couple BV’s strategic expertise with Plasco’s industry leading market position, strong ecommerce presence, and 32 years of identification and access control knowledge.”
Justin H. Harrison, Managing Director at BV, said, “Alan Mendelson has built a dynamic company with a leading position in the ID solutions market as evidenced by its broad and growing customer base. We are excited to partner with Alan and his team and I am confident that we will be successful in integrating several of the growth objectives identified during our diligence.”
Plasco was represented by BlackArch Partners and Akerman LLP.
Terms of the transaction were not disclosed.
Founded in 1983 by George Mendelson, and with offices in Miami and Minneapolis, Plasco is the largest integrator of identification systems and supplies globally.
BV Investment Partners is currently investing its eighth private equity fund. Since its founding in 1983, the firm has invested over $2.6 billion in over 80 companies, actively targeting investments in the information and business services and communications industries. For more information, please visit http://www.bvlp.com.