Checkpoint Systems, Inc., a company that provides shrink management, merchandise visibility and apparel labeling solutions, is selling its U.S. and Canadian CheckView business to an affiliate of Platinum Equity, a California-based private equity firm. Platinum Equity’s affiliate will continue business operations and assets of Checkpoint associated with the U.S. and Canadian CheckView business.
The decision to sell the CheckView business was taken by Checkpoint’s Board of Directors few months ago. Meanwhile, Checkpoint will continue its operations in the area of shrink management, merchandise visibility and apparel labeling solutions. The company enables retailers and their suppliers to reduce shrink, improve shelf availability and leverage real-time data to achieve operational excellence. Checkpoint solutions are built upon more than 40 years of RF technology expertise, diverse shrink management offerings, a broad portfolio of apparel labeling solutions, market-leading RFID applications, innovative high-theft solutions and its Web-based Check-Net(R) data management platform
Checkpoint Systems’ president and CEO, George Babich, said, “We are pleased to have reached an agreement. Platinum Equity is a global investment firm with a unique focus on business operations and a strong track record helping companies reach their full potential. The firm’s financial resources and operational expertise will present the CheckView business with tremendous new opportunities. We are committed to support CheckView throughout the sale process to ensure an orderly transition with full continuity of service to customers.”
“We are excited about the prospects for CheckView under our ownership,” said Platinum Equity Principal Jason Leach. “Platinum has an extensive track record of acquiring corporate divestitures and maximizing their potential as standalone businesses. CheckView will act as a platform acquisition and allow us to focus on the core business while pursuing organic growth initiatives and strategic add-ons in a highly fragmented space.”
Edited by Brooke Neuman