Leading RFID Company Regrew with State-of-the-Art RFID modules
DENVER, Colo., Jan. 6, 2016 /PRNewswire/ — The Stage Fund has completed the sale of Skyetek Inc., a Denver, Colorado-based provider of embedded and standalone RFID Solutions to GSI Group Inc (NASDAQ: GSIG)
SkyeTek specializes in high-performing RFID technologies that maximize efficiency and visibility for OEMs serving the Medical and Pharmaceutical, Government, Hospitality, and Manufacturing industries maximizing efficiency, reducing inventory loss, increasing patient safety and solving an array of business problems.
Daniel Frydenlund, Chairman and CEO of The Stage Fund, stated: “When the opportunity arose to acquire Skyetek, it was clear that RFID would become a large part of the-internet-of-things. Skyetek’s technology supports solutions not only for asset tracking but more importantly for the state-of-the-art medical device industry poised for massive growth.” Frydenlund continued, “Following our acquisition of Skyetek Inc., we took significant steps to advance the product suite to grow and expand the business. We are very proud of Skyetek’s success and accomplishments, especially in the development of the UHF technology which is now embedded within medical devices around the world changing peoples’ lives.”
The cycle from acquisition to exit with Skyetek is a prime example of The Stage Fund’s core business strategy. The Stage Fund team works with equity owners and venture lenders to find successful outcomes with companies that require immediate change.
Greg Kincade, Partner and CFO of The Stage Fund stated, “The Stage Fund acquired Skyetek Inc. in 2009 in the middle of a worldwide financial crisis. Through the strategic, financial and operating support of The Stage Fund, Skyetek, Inc. was able to overcome tough economic times and positioned itself once again to become a leader in it’s industry and an acquisition target.”
About The Stage Fund
The Stage Fund, founded in 2009 by Daniel Frydenlund, is an investment firm focused on acquiring controlling interests in companies undergoing change in capital structure, strategy, operations or growth and can benefit from our operational and capital approach. The Stage Fund targets companies with a core business, products or services, revenue, strong customer relationships, and that have reached a point in their lifecycle presenting an opportunity for transformation.
More information about The Stage Fund is available on the Company’s website at www.thestagefund.com.
SOURCE The Stage Fund.