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PRESS RELEASE: Beringea invests in UICO, innovator of the world’s most durable touchscreens
January 23, 2014
FARMINGTON HILLS, Mich. — Beringea, LLC, a private equity firm providing growth capital to market-leading businesses, has announced its fund has led an investment in UICO, an innovator and manufacturer of highly durable touchscreen technology, headquartered in Elmhurst, Illinois. The investment will support UICO’s hiring plans and working capital needs as the company continues to grow and produce larger volume programs. Also participating in the financing round were existing investors, Ann Arbor, Mich.-based Plymouth Venture Partners, and Chicago-based Hyde Park Angels.
UICO supplies Fortune 1000 clients with the company’s duraTOUCH® touchscreens that work in the harshest environments — withstanding temperature extremes and rough handling — and that perform when wet, and with thick gloves. The company nearly tripled production during 2013, and has established strategic relationships in China and throughout the United States to prepare for significant growth over the next year and beyond. Sectors that benefit from UICO’s highly differentiated touch technology include automotive, agriculture, appliance, medical, military, marine, industrial and wearables.
“UICO has a robust, growing customer pipeline in a variety of industries; its superior water and glove touch performance is appealing to many different types of end users. The proprietary, differentiated products UICO offers, managed by an experienced team, makes this an extremely promising investment for us,” said Mark Donnelly, principal at Beringea.
“Our partnership with Beringea comes at a key time in our company’s growth trajectory,” added Bahar Wadia, CEO of UICO. “We are now well-positioned to capture an even larger portion of the rapidly growing global market for durable touchscreens.”
Beringea, LLC provides equity and/or mezzanine debt to small- and-middle market companies. The Firm, which includes Michigan-based Beringea, LLC and its London, UK office Beringea LLP, invests in portfolio companies operating in a range of sectors, including health care, clean technology, manufacturing, media, Internet technologies and specialized consumer products.
With flexible capital solutions, extensive investing experience and offices in the U.S. and UK, Beringea’s team offers its portfolio companies the resources to grow their businesses and create value for shareholders. For more information, visit www.beringea.com.
In the United States of America, Beringea operates as an SEC-registered investment advisor, Beringea, LLC. In the United Kingdom, this document is issued by Beringea LLP, a firm authorized and regulated by the Financial Conduct Authority. Beringea LLP is a limited liability partnership registered in England and Wales with company number OC342919, and its registered office is at 39 Earlham Street, London, WC2H 9LT, UK. This document is intended solely to provide information regarding Beringea’s potential financing capabilities for prospective portfolio companies.
UICO is the maker of duraTOUCH®, the world’s most durable PCap touch technology. UICO’s innovative technology and solutions enable equipment manufacturers to deliver proven, best-in-class touch solutions in extreme environments of use. UICO is headquartered in Elmhurst, Illinois with key suppliers and manufacturing partnerships worldwide to support a large and growing customer base of leading OEMs in automotive, agriculture, appliance, medical, military, marine, industrial and other commercial product segments. For more information, visit www.uico.com.
Andi Jenkins, Director of Marketing and Communications