Reichmann Segal Capital Partners has acquired OES, a company that designs and manufactures LED video scoreboards and provides electronic manufacturing and wire harness design and assembly services. OES was acquired from Ardenton Capital which purchased the company in October 2017.
OES produces professional-grade LED scoring systems for schools, arenas, and pro sports venues across North America; timing software used by leagues such as the NHL, NBA, and NFL; and custom electronics for industrial and commercial clients. OES was founded in 1980 and operates a 40,000-square-foot facility in London, Ontario.
The acquisition of OES follows Reichmann Segal’s buy in May 2024 of Athletica Sport Systems, a Waterloo, Ontario-headquartered designer, manufacturer, and installer of dasher board systems—the perimeter wall structures that enclose hockey rinks and protect both players and spectators. These systems absorb player impact and keep pucks within the playing area. Athletica’s core products include Pro Series dasher boards, glass shielding, and safety gate systems. Athletica had been a portfolio company of Fulcrum Capital Partners since April 2018.
Customers of Athletica include NHL arenas and community rinks, and the company is the Preferred Rink Equipment Supplier to the NHL, AHL, USA Hockey, and USHL. Athletica, led by CEO Andrew McRae, was founded in 2003.
Post-acquisition, OES will continue to operate under the leadership of CEO Jeff Stewart. “On behalf of OES, I am thrilled to be joining forces with Reichmann Segal and Athletica,” said Mr. Stewart. “This is an exciting milestone in our company’s journey. With the integration of these businesses and, specifically, Athletica’s state-of-the-art products, combined with OES’ advanced design of electronic solutions, we have the opportunity to really move the needle and set new standards, not only in the sports facility industry, but in our EMS and Technology divisions, as well.”
“OES is a spectacular company with an exceptional senior leadership team,” said Charles Reichmann, a co-founder and managing partner at Reichmann Segal. “The scoreboard business is what drew us in, but the team Jeff has assembled and their technical expertise is truly what makes OES special. We are excited with this new platform and we plan to invest heavily in growth in the electronics manufacturing services and technology space.”
Reichmann Segal makes majority ands significant minority investments of $20 million to $200 million in companies with $5 million to $50 million of EBITDA. Sectors of interest include business and industrial services, industrial products, infrastructure services, essential consumer products and services, distribution, and healthcare services. The firm was founded by Mr. Reichmann and Managing Director Jarrad Segal and is headquartered in Toronto.
“Charles and I are incredibly excited about our investment in OES and in partnering with Jeff and the entire team. Together with Athletica, OES builds on our leadership position in the sports infrastructure market. We expect significant cross-collaboration between the two franchises, each the choice of the pros. Further, we see tremendous promise and growth potential with our entry into the EMS and custom technology markets. The future is bright,” said Mr. Segal.
Financing for the acquisition of OES was provided by National Bank of Canada.
© 2025 Private Equity Professional | April 8, 2025
