Sole Source Capital LLC, an industrial-focused private equity firm, has announced that its portfolio company, ID Images (IDI), has acquired Summit Labels and Precision Label in separate transactions. The acquisitions bring the total number of add-on investments for IDI to seven since becoming a Sole Source Capital portfolio company in August 2021, with the company’s most recent acquisition of Hickman Label announced just last month. Terms of the transactions were not disclosed.

Jointly-owned Vancouver, Canada-based Summit Labels and Calgary, Canada-based Precision Labels are both manufacturers of prime labels for the food & beverage, industrial, and nutraceutical end markets. The companies’ Canadian facilities expand IDI’s presence across Canada while increasing its exposure to digital printing and prime label offerings. In addition, the companies’ design and marketing teams often collaborate with clients to help create branding strategies through custom labeling.

“The teams at Summit and Precision have done an outstanding job creating a best-in-class prime label business. We look forward to adding their strong digital and flexographic capabilities to the IDI platform,” says Dewey Turner, partner, and president of operations at Sole Source Capital.

Plus, from November 30 to December 2, more than 100 attendees joined TLMI in Orlando, FL, USA, for the association’s annual Committee Summit. The committees strategized plans of action for TLMI’s wide range of committees, including membership, regulatory affairs, sustainability, technical, and workforce development.

The committees’ goals include education and resources for the association’s members to succeed with their businesses. The event also allowed TLMI to welcome its more than 30 new members to the association.

“This is one of the events that we at TLMI love the most because this speaks about this organization and association,” said Linnea Keen, president, TLMI. “Other organizations don’t have anything like this where volunteers give their time and make TLMI what it is. It’s the fabric of our industry.”

Here are the highest-trafficked news items for the week ending on December 9:

1. ID Images acquires Summit Labels and Precision Label 
2. TLMI hosts successful Committee Summit in Orlando
3. Cartes highlighting digital technology for North American market 
4. Bobst showcases digital hybrid technology at open house
5. Icon Digital invests in Durst technology