FOR IMMEDIATE RELEASE
SYBRIDGE TECHNOLOGIES COMPLETES ACQUISITION OF CLOUD-BASED DIGITAL SOLUTIONS PLATFORM
Southfield, Michigan – May 25, 2021 – SyBridge Technologies (“SyBridge”), a global technology leader in value-added design and production solutions, announced today that it has completed the acquisition of Toolstats software along with exclusive rights for related intellectual properties from CaptureMore. With this acquisition, SyBridge will soon launch SyBridge IoT Cloud which provides customers a cloud-based, digital services offering to more efficiently manage products throughout their lifecycles, from design to manufacturing to service and repair. It marks an important expansion in the digitization of manufacturing solutions offered by SyBridge.
SyBridge was established in 2019 by New York-based private equity firm Crestview Partners (“Crestview”). Crestview committed $200 million of equity to create an industrial technology leader spanning end-markets, geographies, and advanced technological capabilities to provide value-added solutions to its customers.
Already the largest technical solutions provider for tooling and mold users in North America, SyBridge will now also be the most technologically advanced, offering the broadest scope of digital services in the industry. After incorporating this cloud-based platform, SyBridge will offer end-to-end digital solutions to achieve industry-leading turnaround time and help customers improve quality, throughput, and uptime.
“This acquisition allows us to launch SyBridge IoT Cloud to make everything we do more accurate, more efficient and more valuable to our customers,” said Tony Nardone, CEO of SyBridge. “What we are accomplishing goes beyond just collecting and storing data in the cloud with easy access on mobile devices. Our aim is to provide solutions that make our customers more effective and efficient. Not just hardware, but hardware combined with software and Industry 4.0 driven data solutions.”
About SyBridge Technologies
SyBridge Technologies was established in 2019 by Crestview Partners to create a global technological leader that provides value-added design and production solutions across multiple industries. SyBridge is based in Southfield, Michigan. For more information, please visit www.sybridgetech.com.
About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $9 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media, and financial services. For more information, please visit www.crestview.com.