Sole Source Portfolio Company ID Images Acquires Summit Labels and Precision Label

ID Images Continues to Add Prime Label Capabilities with 6th and 7th Add-On Transaction Since Being Acquired by Sole Source Capital in August 2021

DALLAS, December 05, 2022--(BUSINESS WIRE)--Sole Source Capital LLC, an industrial-focused private equity firm, today announced that its portfolio company, ID Images ("IDI"), a premier provider of product identification solutions, has acquired Summit Labels and Precision Label in separate transactions. The acquisitions bring the total number of add-on investments for IDI to seven since becoming a Sole Source Capital portfolio company in August 2021, with the company’s most recent acquisition of Hickman Label announced just last month. Terms of the transactions were not disclosed.

Jointly-owned Vancouver, Canada-based Summit Labels and Calgary, Canada-based Precision Labels are both manufacturers of prime labels for the food & beverage, industrial, and nutraceutical end markets. The companies’ Canadian facilities expand IDI’s presence across Canada while increasing its exposure to digital printing and prime label offerings. In addition, the companies' design and marketing teams often collaborate with clients to help create branding strategies through custom labeling.

"The teams at Summit and Precision have done an outstanding job creating a best-in-class prime label business. We look forward to adding their strong digital and flexographic capabilities to the IDI platform," said Dewey Turner, Partner, and President of Operations at Sole Source Capital.

"These acquisitions augment our prime labeling capabilities with high-quality digital and flexo expertise, expanding the IDI footprint throughout Canada," said Jeff Fielkow, President and CEO of IDI. "Our new partners share our spirit of customer-centric focus and collaboration, offering customized label solutions to support our customers’ innovation and growth."

"We are pleased to announce the partnership with ID Images and Sole Source," said Matt Sauder, President of Summit Labels and Precision Label. "There is a clear fit between the companies, and we expect this relationship to bring value to our employees, customers and stakeholders."

About Sole Source Capital
Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy-and-build strategy with significant downside protection. The Firm is headquartered in Dallas, Texas with an additional office in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact investor.relations@solesourcecapital.com.

About ID Images
ID Images, a leading manufacturer of converted label products, specializes in providing label solutions from supply chain management to brand protection. The company serves a variety of end markets including food and beverage, transportation and logistics, consumer products and healthcare and has facilities in Ohio, Massachusetts, Pennsylvania, Rhode Island, Oregon, California, Arkansas, Tennessee, and Canada. For more information, please visit www.idimages.com.

About Summit Labels
Based in Vancouver, British Columbia, Summit Labels is a manufacturer of prime labels for the food & beverage, grocery, cosmetic and nutraceutical end markets. The company collaborates with clients to help create branding strategies through custom labeling. For more information, please visit www.summitlabels.ca.

About Precision Label
Founded in 1992 and based in Calgary, Alberta, Precision Label produces prime labels for the food & beverage, nutraceutical, cosmetic, agricultural and retail end markets. For more information, please visit www.precisionlabelltd.com.

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Contacts

Media:
Bill Mendel
Mendel Communications LLC
(212) 397-1030
bill@mendelcommunications.com

Sole Source Capital:
Sumil Menon
Head of Investor Relations
investor.relations@solesourcecapital.com