Los Angeles, CA: InvoTech Systems, Inc. (www.invotech.com), a Woodland Hills, California-based inventory management software and solutions company with a dominant position in the hospitality industry, has been acquired by HID Global Corporation. Based in Austin, Texas, HID Global is a provider of trusted identity solutions, including software and hardware, which offer convenient access to physical and digital places and connect items that can be identified, verified and tracked digitally. HID Global has over 4,000 employees worldwide and operates international offices that support more than 100 countries and is an ASSA ABLOY Group brand. The transaction closed on December 23, 2021.
Harvey Welles, Chairman and CEO of InvoTech said “We are incredibly pleased to have completed this transaction with a world class organization such as HID Global which shares our values as a family-owned and operated business. Our companies have developed a strong working relationship over an extended period, and we are extremely excited about the ability to continue the growth and development of InvoTech under the leadership of HID. We also very much appreciate and value the guidance provided by our investment banking firm, Calabasas Capital, in completing this transaction.
David Bonrouhi and Andrew Williamson did an excellent job helping us evaluate strategic alternatives, procuring proposals from a wide variety of interested parties and through a structured and well-designed process got us a fantastic result.” David Bonrouhi, Managing Director of Calabasas Capital said, “We are so honored to have had the chance to work with Harvey Welles and Jennifer deSpain, Chief Financial Officer of InvoTech, in helping their family complete this transaction. HID Global is the perfect partner to accelerate growth into new and expanded markets by leveraging InvoTech’s dominant position as the leading inventory management software solutions provider for uniforms and linens in the hospitality sector.”
Please contact David Bonrouhi or Andrew Williamson with any questions about this transaction and the M&A advisory services of Calabasas Capital.