ClearLight Partners LLC Leads the Acquisition of Futurelogic Inc.Business Editors & High-Tech Writers NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif.--(BUSINESS WIRE)--Dec. 19, 2002 Private equity investment firm ClearLight Partners today announced that it acquired Futurelogic Inc. in partnership with the company's existing management team. ClearLight Partners and Futurelogic's founding management provided equity in the transaction, while American Capital Strategies provided senior, mezzanine, and junior financing and took a small equity stake in the company. Futurelogic is a leading developer of small-format embedded Inserted into. See embedded system. thermal printing subassemblies. With headquarters in Glendale, Calif., the company customizes its products to meet the specific demands of OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers for a variety of end products, including cashless slot machines, gas dispensers, medical devices, self-service kiosks The self-service kiosk rose with the development of the ATM and adoption by consumers coupled with advanced technologies such as touch-screens. Self-service kiosks are hardware devices that work in combination with self service software, allowing users to perform any number of , and others. The company has been very successful in the gaming industry, where its best-selling best·sell·er also best seller n. A product, such as a book, that is among those sold in the largest numbers. best printer dominates the market and is considered the industry standard. "We are excited about our investment in Futurelogic. We believe that Futurelogic, with its accomplished management team, a history of strong revenue and earnings growth, and the solid relationships it has built with major players in each of its markets, is on a path for continued success," said Rob Healy, partner at ClearLight Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Futurelogic was founded in 1983 by current Vice President of Manufacturing/Quality control, Mark Meyerhofer. Originally an electronic design consulting business, the company turned its focus onto specialized thermal printer See direct thermal printer and thermal wax transfer printer. design and manufacturing, and began serving OEMs that required thermal products to be embedded in larger product designs. "To date, Futurelogic has been very successful at identifying and addressing promising market opportunities in attractive niche markets A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. . We look forward to leveraging ClearLight Partners' unique mix of financial experience and management savvy to take the company to the next level of success," said Tony DiMarco, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Futurelogic. Michael Kaye, managing partner at ClearLight, said: "We committed to invest in Futurelogic in great part due to the accomplishments and entrepreneurial spirit of the management team. With the company's strong leadership in place, we are confident that Futurelogic will effectively grow and perform according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. our high expectations." "The investment in Futurelogic fits perfectly with ClearLight's strategy of investing in middle-market companies that have successful management teams, and strong earnings growth driven by attractive industry fundamentals," Kaye added. About ClearLight Partners ClearLight Partners, LLC is a $300 million private equity firm based in Newport Beach, that invests in middle-market businesses with strong potential for value creation. ClearLight seeks to partner with world-class management teams who have a track record of building successful companies within their industry and have the vision to build a market leader. Founded in 2000, ClearLight Partners focuses on a wide variety of industries, including manufacturing, consumer products, education, retail, healthcare and security services Security services are state institutions for the provision of intelligence, primarily of a strategic nature, but also including protective security intelligence. Examples include the Security Service (MI5) and the Secret Intelligence Service (MI6) in the United Kingdom, and the . ClearLight Partners, LLC 100 Bayview Circle, Suite 5000 Newport Beach, CA 92660 949/725-6610 www.clearlightpartners.com About Futurelogic Glendale-based Futurelogic is a leading developer of embedded thermal printing solutions serving various markets. Thermal printing is the preferred technology for transaction-based receipt printing in applications such as cashless slot machines, pay-at-the pump gasoline dispensers, self-service kiosks, and others. The company was founded in 1983 as an electronic design consulting business and has evolved into the technological leader in custom manufacturing of thermal printing devices. Futurelogic Inc. 425 E. Colorado Street Suite 670 Glendale, CA 91205 818/244-4700 www.futurelogicinc.com |
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