Waukesha-based
OwnersEdge, an employee-owned ESOP holding company, has acquired St. Charles, Illinois-based
Communications Direct (CommDirect) for an undisclosed price.
CommDirect is a mission-critical communications business and a Motorola Solutions channel partner. It provides communication system rentals.
CommDirect has rental offices in four cities that host large trade shows and conventions. They include Morton Grove, Illinois; Orlando, Florida; Carrollton, Texas; and Las Vegas, Nevada. All 26 CommDirect employees are now employee owners and will benefit from the OwnersEdge employee stock ownership plan.
“During its 30-plus years, CommDirect has established itself as a premium provider of critical communication systems with differentiated capabilities in the large system rental market," said
Rob Dillon, co-CEO of OwnersEdge. "This acquisition is a strategic move that allows us to expand our geographic footprint into Illinois with a business that perfectly complements two of our existing operating companies. CommDirect clients will now have access to additional solutions that BAYCOM and Implecho offer, including video surveillance and door access control security systems, mobile computing products, headsets and tour guide systems.”
OwnersEdge hopes to increase its current portfolio of five operating companies to 10, according to a Tuesday announcement. The holding company currently owns Asche & Spencer, BAYCOM, CC&N, Implecho and QComp Technologies.
“I believe the ESOP model is one of the best ways to create a committed and engaged workforce where employees view their contributions as vital and impactful to the overall success and financial health of the business,” said
Christine Adee, co-CEO of OwnersEdge. “We’re excited to welcome the employees of CommDirect to our business and are always looking to bring additional companies into OwnersEdge.”
This is the first acquisition OwnersEdge has made since officially
transitioning to a co-CEO model at the start of the year.
Lisa Reardon, the company’s founder and former CEO, still serves as executive board chair for OwnersEdge.
"Our structural changes have provided the necessary capacity and focus to accelerate our vision of building sustainable businesses throughout the Midwest," said Reardon. "By adding CommDirect to our portfolio, we are able to continue to deliver on our purpose of enabling current and future employee owners to live out their own American Dream."
