BOSTON, Aug. 26, 2019 /PRNewswire/ -- BV Investment Partners ("BV"), a middle-market private equity firm focused on the business services, software and IT services sectors, today announced the sale of Plasco ID to the Barcodes Group.
Founded in 1983 and located in Miami, FL and St. Louis Park, MN, Plasco ID is an online lead generation and distribution business serving the identification and access control industry, a market that includes: identity and access control products such as identification printers, software, and cameras; related consumables such as blank ID cards and printer ribbons; and technical support services. Plasco sells identification products through its direct sales force, value-added distribution partners, and award-winning websites. Plasco is the largest provider of digital photo identification systems and supplies, serving Fortune 500 companies and leading healthcare organizations in the United States and internationally.
Justin Harrison, Managing Partner of BV Investment Partners, said, "Since partnering with Alan Mendelson, the company's CEO, in 2014, we have had the benefit of working with the management team to transform Plasco into a proprietary full solutions provider of identity and access control software, products, and services. During this partnership, we launched new products, expanded internationally, and completed two acquisitions. Our relationship with Alan was a key contributor to this successful outcome. We are excited about the merger of these two great Companies."
Alan Mendelson, CEO of Plasco, said, "We had an outstanding partnership with the BV team and that relationship opened new growth opportunities for us. Five years ago we mapped out a growth plan upon which we have successfully executed. With BV's guidance, expertise and network, we launched new products and entered new categories of business. The combination of Plasco ID and Barcodes will create a market leading platform to better serve our customers and plans for expansion."
BV has announced investments in five companies in 2019 and the sale of Reimagine Holdings LLC, a global leader in data creation and technology-enabled business intelligence.
About Plasco ID
Founded in 1983 and with offices in Miami and Minneapolis, Plasco ID is the global leader in identification solutions. Plasco ID employs a direct sales force as well as a manufacturer-trained technical support staff and manages four ecommerce websites. With its enterprise solutions, integration services, distribution channels, and retail channels, Plasco ID has served over 100,000 customers in the United States and internationally and has made the Internet Retailer Top 500 list for seven consecutive years. Visit www.plascoid.com.
About BV Investment Partners
BV Investment Partners is currently investing its ninth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested $3.5 billion, actively targeting investments in the business services, software and IT services industries. For more information, please visit www.bvlp.com.