BUSINESS WIRE: Private equity investment firm ClearLight Partners announced today that it has sold its majority interest in FutureLogic to American Capital Strategies.
FutureLogic is a leading developer of small-format embedded thermal printers. Headquartered in Glendale, CA, the company customizes its products to meet the specific demands of OEM customers for a variety of end products, including cashless slot machines, gas dispensers, medical devices, self-service kiosks, and others. The company has been very successful in the domestic and international gaming industry, where it is a key supplier to virtually every gaming machine manufacturer.
During its involvement with FutureLogic, ClearLight helped the company identify and enter new vertical markets, diversify its customer base in existing markets and gain traction in international markets. These accomplishments contributed to revenue growth in excess of 118 percent during ClearLight's holding period.
"The FutureLogic management team did an outstanding job of growing the company during our tenure. They were collaborative, cooperative and dedicated. We enjoyed working with them to make strong progress in diversifying FutureLogic's customer base, expanding within the gaming market and entering new niche markets, including voting and parking. Together, we achieved strong, profitable growth, more than doubling the size of the company during our partnership," said Michael S. Kaye, managing partner at ClearLight Partners.
Founded in 1983, Glendale, Calif.-based FutureLogic is the leading supplier for thermal printers found in cashless slot machines. Thermal printing is the accepted technology for transaction-based receipt printing, such as a voucher for a slot machine, a bar code label used for tracking purposes and pay-at-the-pump gasoline purchases.
