News : Vestar Capital Partners Acquires Mobile Technologies Inc.
New York, NY, USA, Aug 8, 2016 -- Vestar Capital Partners ("Vestar"), in partnership with management, announced that it has acquired Mobile Technologies Inc. ("MTI"), a global provider in mobile device security and display technologies, from Hammond, Kennedy, Whitney & Company, Inc. ("HKW"). Terms were not disclosed.
Founded nearly 40 years ago, MTI operates in three business segments: Retail Merchandising ; ArmorActive ; and Global Services.
"Vestar’s financial resources and strategic expertise will help MTI capitalize on its exciting growth opportunities, while continuing to meet and exceed the expectations of our valued customers," said Chris Remy, president and chief executive officer of MTI. "Our partnership with HKW has established MTI in these markets. Going forward, Vestar will enable us to accelerate our progress towards becoming the global leader by further investing in innovation, product development, and service capabilities."
"We’re confident that our new partnership with Chris Remy and his outstanding management team will lead to new levels of growth and profitability for MTI," said Robert Rosner, co-president and founding partner of Vestar. "Demand for retail merchandising display technology and enterprise mobility has a high growth outlook, and within that marketplace, MTI offers the only global, device-agnostic, turnkey solutions platform. This unique position, coupled with an outstanding management team, has primed the Company to take full advantage of the dynamic expansion opportunities at hand."
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Keep Cost In Perspective
More Editorial From Mobile Technologies Inc
About Mobile Technologies Inc:
For nearly 40 years, MTI has been a global leader in mobile device display technologies, developing solutions that deliver the highest level of merchandising security for consumer electronics and mobile enterprise applications allowing products, sales and service to be the focus, while security operates efficiently in the background. MTI is based in Portland, OR, with offices in Europe and Asia.
Published: Tuesday, August 9, 2016