SALE OF LEADING MAKER OF FIXED POSITION BAR CODE SCANNING TECHNOLOGY
GREENWICH, CT, October 24, 2005 -- Littlejohn & Co., a private investment firm that acquires companies that can grow and benefit from its operational approach, today announced that it has agreed to sell PSC, Inc., an international data-collection technology and services provider, to Datalogic (Techstar: DAL.MI), a leading manufacturer of bar code readers and radio frequency identification systems.
The transaction, valued at $195 million, is expected to close in the next several weeks. Deutsche Bank Securities Inc. served as financial advisor to Littlejohn and Morrison Cohen served as legal counsel.
About Littlejohn & Co LLC
Founded in 1996, Littlejohn & Co., LLC is a private equity firm that makes control equity investments in mid-sized companies that are undergoing a fundamental change in strategy, operations or growth that can benefit from its operational and strategic approach. The firm is based in Greenwich, Connecticut. Littlejohn can be reached at 203-552-3500.
About PSC Inc.
PSC Inc. is a global provider of breakthrough data-capture products and services and is the number one provider of fixed position bioptic and single plane bar code scanners used at the retail point of sale. Wired or wireless, PSC products serve multiple industries including the retail, manufacturing, distribution, transportation and logistics sectors. PSC offers a broad array of products and services including retail automation, automated data collection and mobile & wireless. The company has nearly five million scanners and mobile and wireless computers deployed in over 4,500 companies worldwide, including half of the Fortune 500 companies and 100% of the world's top 15 retailers.