BETHESDA, Md.--(BUSINESS WIRE)--Northlane Capital Partners (“NCP”) announced today that it has invested in Smart Wave Technologies Corp. (“SmartWave”), a market-leading designer and manufacturer of innovative electronic and electromechanical systems for a broad range of end markets, including the away-from-home restroom market. NCP invested alongside SmartWave founder Peter Zosimadis, who remains with the company as its Chief Technology Officer. Industry veteran Jack Vresics joined SmartWave as CEO at close. The NCP team previously invested in a successful business led by Vresics within the same core end market as SmartWave.
Founded in 1994 and headquartered in Toronto, SmartWave designs and manufactures components for products that require sensing, verifying, or dispensing on behalf of companies in the healthcare, hygiene, sanitary, plumbing supply and other end markets. SmartWave adds value to customers’ products by incorporating technology that improves the product functionality and enhances the end user experience.
“This transaction will provide SmartWave with significant resources to serve our existing customers and to expand into new end markets. Our new partners will provide capital and insight to support the company’s continued growth,” said Zosimadis.
Vresics added, “I am excited to partner with Northlane’s investment professionals again and to join SmartWave. I have long admired the company’s established track record for innovation and look forward to exploring the multiple avenues of growth ahead with Peter and the SmartWave team.”
David Steinglass, NCP Partner, noted, “This investment exemplifies NCP’s strategy. We are partnering with an experienced executive from our network to buy a company with a terrific history of innovation and customer service, enabling us to accelerate value creation.”
ABOUT NORTHLANE CAPITAL PARTNERS
Based in Bethesda, MD, Northlane Capital Partners is a private equity firm that invests in control buyouts of middle market companies based in North America. NCP focuses on three sectors: healthcare, outsourced business services, and industrial technology. NCP generally looks for platform companies with EBITDA of $5 million to $30 million. For more information, please visit http://www.northlanecapital.com.