Consumer Durables News

Sole Source Portfolio Company ID Images Acquires Hickman Label


Marks 5th Add-On Transaction Since Being Acquired by Sole Source Capital in August 2021

DALLAS, November 11, 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 Lebanon, Tennessee-based Hickman Label. The acquisition marks the fifth add-on investment for IDI since it became a Sole Source Capital portfolio company in August 2021. Terms of the transactions were not disclosed.

Founded in 2016, Hickman Label is a provider of highly-customized label solutions for the on-demand inkjet market. On-demand inkjet labels enable customers to print small batch, prime labels via their own desktop printers. In addition, Hickman’s robust ordering platform has the unique capability of integrating into its distribution customers’ websites utilizing a plug-in tool. The company sells to a mix of distributors and end users with more than 2,000 active customers across North America.

“We are thrilled to partner with the team at Hickman Label. Hickman’s impressive online ordering platform and expertise in the rapidly growing on-demand label market introduces a compelling new growth avenue for IDI’s platform,” said Scott Sussman, Partner and CIO of Sole Source Capital.

“IDI and Hickman Label share similar commitments to the success of their customers and employees. We look forward to working with the Hickman family and the entire Hickman Label team,” said Jeff Fielkow, President and CEO of IDI. “This acquisition will greatly increase IDI’s omnichannel presence. We look forward to providing Hickman’s products to our customer base while simultaneously extending our product line to Hickman’s customers.”

“IDI is the perfect fit to maximize Hickman Label’s potential,” said Neil and Frank Hickman of Hickman Labels. “Our unique approach to providing quick turnaround for labels will complement IDI’s resources enabling us to meet an even wider variety of customer needs. We are excited to partner with Jeff and his team.”

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 Transportation and Logistics, Food and Beverage, Consumer Durables 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 Hickman Label

Hickman Label is a provider of short-run, highly customized label solutions specializing in high quality label media for on-demand inkjet printers, servicing the blank variable prime market. The Company is headquartered in Lebanon, TN. For more information, please visit www.hickmanlabel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221111005246/en/

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



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