CLEVELAND, OHIO – Ripley Tools, a portfolio investment of Cleveland-based private equity firm CapitalWorks, LLC, announced today the acquisition of Optical Design Manufacturing Inc. (“ODM”), a designer and manufacturer of quality fiber optic testing equipment. ODM’s electronics expertise will expand Ripley’s current product offering and provide additional solutions to customers of their Miller® brand fiber optic cable preparation tool line. Terms of the deal were not disclosed.
With the Miller® brand, Ripley Tools is the global leader in the design and manufacture of cutting, stripping and cable preparation tools in the fiber optic and telecommunications industries. “United by a common goal of producing high quality, innovative solutions for the fiber optic professional, we are excited for the opportunities this acquisition brings. I am confident we will increase the value to both Ripley and ODM customers while enhancing future growth and performance.” Christian Festa, President and CEO Ripley Tools, LLC.
Founded in 2003 and located in Laconia, New Hampshire, ODM products include optical power meters, laser and LED light sources, inspection scopes, optical fiber identification instruments, optical time-domain reflectometers (OTDR) and full testing kits. ODM is known to provide durable, dependable and accurate equipment, professional product training and 24-hour technical support.
ODM’s entire operation, including technical service, customer service, design and production will remain in Laconia, NH for the foreseeable future. Effective immediately, the ODM line will be integrated and sold under the Ripley Tools umbrella.
CapitalWorks acquired Ripley Tools in February 2014. “The acquisition of ODM adds a leading brand in the fiber optic testing market to the Ripley product portfolio. We are excited to be a part of ODM’s continued growth.” said CapitalWorks Vice President John Corrigan.
Located in Cromwell, Connecticut, Ripley Tools is the leading designer and manufacturer of high-end hand tools for the cable TV, telecom, fiber optic and electrical utility markets. The company’s products and solutions serve industry leading OEM’s and distributors in North America, Europe and Asia. Ripley (ripley-tools.com) markets products under the trade names Ripley®, Miller®, Cablematic™, Utility Tool® and Abeco.
CapitalWorks LLC (capitalworks.net) is a Midwestern and family-focused private equity firm that encourages knowledgeable investors to partner with it in finding, vetting and owning companies. Based in Cleveland, Ohio, CapitalWorks acquires lower middle-market companies in niche manufacturing, value added distribution, and business services industries and gives them the capital, support and freedom to grow. Founded in 1999, the firm’s investors are primarily successful entrepreneurs and executives who contribute to the evaluation and investment process.