Cortec Group Acquires Barcodes

Cortec Group Acquires Barcodes

Cortec Group has acquired Barcodes, a distributor of automatic identification capture products.  The Barcodes acquisition represents Cortec Fund V’s third platform investment.  Cortec Fund V had its final closing in 2011 with $620 million in total committed capital.

Barcodes is a distributor of automatic identification capture (“AIDC”) products, selling primarily to small and medium-sized businesses and select Fortune 500 customers.  Products include barcode scanners, mobile computers, label printers, point-of-sale systems, identification cards, RFID equipment, and other related consumable products. The company was founded in 1994 and is based in Chicago (

“Through its unique business model, online lead generation capabilities and value-added customer service, Barcodes is a leader in its market and continues to gain share versus the competition,” said Scott Schafler, a Managing Partner at Cortec.

Daniel Nettesheim, Barcodes’ CEO, will continue in his current position and remain a shareholder.  “We were impressed by Cortec’s approach, including their demonstrated commitment to growth. We are genuinely enthusiastic about this new partnership, both as senior managers of the company and continuing owners in the business,” said Mr. Nettesheim.

Cortec Group invests in middle-market specialty manufacturing, service, healthcare and distribution businesses with enterprise values of $40 million to $300 million. Cortec currently manages over $1 billion in its two active funds. The firm was founded in 1984 and is based in New York (

“We are gratified that senior management chose to work with Cortec to realize their near and longer-term objectives,” said David Schnadig, a Managing Partner at Cortec. “We are thrilled to be partnering with a great team and excited to help facilitate and execute multiple growth initiatives.”

© 2012 PEPD • Private Equity’s Leading News Magazine • 11-7-12

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