Gatekeeper Systems, a portfolio company of Hammond, Kennedy, Whitney & Company (HKW), has acquired Carttec, a European distributor of shopping cart containment and other loss prevention products.
Carttec is a provider of shop fittings, anti-theft and shopping cart systems that are used to prevent the loss of shopping carts in retail environments. The company is headquartered in Eislingen, Germany (www.carttec.de).
Gatekeeper, acquired by HKW in September 2016, provides intelligent shopping cart products that are used to minimize merchandise loss and reduce asset and labor expenditures. The company’s products use radio frequency and locking wheel technology to reduce asset shrinkage by putting an end to cart based shoplifting and shopping cart loss. Eighteen of the top 20 global retailers use shopping carts that incorporate Gatekeeper products. The company is headquartered in Irvine, CA (www.gatekeepersystems.com).
“Our commitment to providing customers with world-class products backed by unsurpassed service and support drove our decision to make this move,” said Michael Lawler, CEO of Gatekeeper. “It will allow customers in Europe to receive the same high level of service and innovation that we provide around the world.”
“The acquisition of Carttec is an exciting addition to the Gatekeeper business, further expanding and simplifying Gatekeeper’s international operations,” said Mike Foisy, HKW’s Lead Operations Partner and Chairman of Gatekeeper’s Board of Directors.
In February 2017, Gatekeeper completed the add-on acquisition of Carttronics, a manufacturer of products used to stop the removal of shopping carts from retail sites. Products include CAPS (cart anti-theft protection system), CIMS (cart inventory management system), POPS, BasketTrack, and StorePort. Carttronics was founded in April 1997 and is based in San Diego (www.carttronics.com).
Hammond, Kennedy, Whitney & Company invests in companies with revenues between $20 million and $200 million and EBITDAs between $2 million and $20 million. Since 1982, HKW has completed 53 platform management buyouts of small middle-market companies throughout North America as well as 60 add-on acquisitions. The firm was founded in 1903 and is headquartered in Indianapolis with an additional office in New York (www.hkwinc.com).
© 2017 Private Equity Professional | August 4, 2017
