Jan 10, 2022 1:09:00 AM |
January 5, 2022 (Boston, MA) – Covington Associates, a leading middle market investment bank announced its role as exclusive financial advisor to Lynx System Developers, Inc., a sports technology data company based out of Haverhill, MA, in the sale of its business to Nevco Sports, LLC. The acquisition of this sports timing pioneer will further enhance Nevco’s position as the industry leader in end-to-end scoring and display solutions for sporting facilities worldwide.
“Lynx System Developers has been a trusted partner to Nevco for many years,” says Jeff Fiorini, CEO of Nevco Sports. “Their state-of-the-art timing and results technology solutions paired with an impeccable reputation made for a natural fit into the Nevco brand. This addition to our product portfolio will be pivotal in enhancing race-day for our customers”.
“We are excited to integrate our technology and timing systems to expand Nevco’s product line,” says President and CTO of Lynx System Developers, Inc., Doug DeAngelis. “Together, we look forward to providing sporting facilities of all sizes with the highest quality scoring and display solutions combined with our photofinish timing and results technology solutions.”
Lynx System Developers, Inc. will maintain operations in Haverhill, MA. To learn more about Lynx solutions please visit www.finishlynx.com.
Covington Associates is an investment banking firm offering advisory services in the areas of mergers and acquisitions (“M&A”), capital raising and strategic advisory to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals. Founded in 1991 and based in Boston, the vision for Covington has been to provide clients with the highest caliber of senior-level attention and to remain an advice driven and results focused organization. Since its inception, Covington Associates has completed over 350 transactions globally for both private and publicly traded companies totaling over $30 billion. Further information can be found at http://www.covingtonassociates.com/overview/.
Lynx System Developers, Inc. is the maker of FinishLynx photo-finish technology and produces fully automatic timing systems, line-scan cameras, and athlete tracking technology for sports markets across the world. Today, FinishLynx is arguably the most popular and powerful photo-finish results technology in the world. It is used at major sporting events across the globe, including the Olympic Trials, Kentucky Derby and NASCAR.
Nevco is the largest private manufacturer and provider of display, scoring and audio solutions. For over 85 years, Nevco has provided athletic and recreational facilities of all sizes with the most innovative scoring and LED video display products in the industry. Nevco is known for its specialty in designing custom facility solutions, quality of products, and superior long term financial value. Today, Nevco scoring solutions are used to enhance the fan experience at events in more than 100,000 locations around the world.
Lynx System Developers acquired by Nevco Sports
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