Case Study

Barcodes Group
Business Services; Diversified Industrials
Barcodes is a leading distributor of automatic identification and data capture (“AIDC”) products and services (e.g., barcode scanners, mobile computers, label printers, point-of-sale systems, and related consumable products, software, and integration services) and identification card and access control (“ID”) products and systems. The Company primarily serves small and medium-sized businesses and select Fortune 500 customers throughout the U.S., Canada, and the U.K.
Chicago, IL
Cortec Group
Transaction Type:
Sellside Advsiory


Through an aggressive growth strategy executed during Cortec’s ownership, Barcodes meaningfully expanded its product and service offerings, customer base, and geographic presence, becoming a leader in the AIDC and ID card markets in North America and the U.K. The Company’s differentiated business model, demand aggregation capabilities and technical expertise produced growth well in excess of market rates.

BlackArch's Customized Solution

BlackArch leveraged its deep end market and business model knowledge to achieve a superior outcome for management and the shareholders.


Odyssey Investment Partners has acquired Barcodes with the expectation of furthering management’s vision for long-term growth. The leadership team will remain active and an integral part of the shareholder group during the Company's next phase of growth. The transaction continues BlackArch’s strong momentum in tech-enabled business services and distribution sectors. Barcodes is another example of the firm’s focus on providing unique M&A advisory services to market-leading growth businesses.