Digital signage specialist BrightSign has announced that private investment firm Graham Partners has taken a majority stake in the company. The “significant investment” is expected to fuel BrightSign’s growth initiatives for a variety of high-growth markets including retail, healthcare, education, attractions, stadiums, and transportation, among others.
The announcement stated that BrightSign was sourced on a proprietary basis through Graham Partners’ Investment Theme Program with a specific focus on digital signage, and that the company’s founders will “continue to be significant investors alongside Graham Partners”.
“BrightSign is a leading, innovative player in the industry with superior technology and strong customer and partner relationships,” said Rob Newbold, managing principal at Graham Partners. “Graham plans to leverage the company’s leading market position to continue its expansion into high-growth markets and technology partnerships.”
Jeff Hastings, who will remain BrightSign’s CEO, added, “Graham Partners’ operating resources and expertise investing in IoT resonated with the BrightSign team. We are excited to partner with Graham to enhance and expand our company.”
Graham Partners is a private investment firm targeting technology-driven advanced manufacturing companies. AQ Technology Partners acted as the exclusive financial advisor to BrightSign in the transaction.