INS Strengthens Offering with Source Inc. Acquisition
Deal News | Mar 19, 2025 | Ropes & Gray
Ropes & Gray, a prominent law firm, represented Industrial Networking Solutions (INS) and CIVC Partners in their recent strategic acquisition of Source Inc. The acquisition aims at enhancing INS's capabilities in providing comprehensive networking solutions, encompassing both wired and wireless technologies, as well as advancing their cybersecurity and managed services access. INS's move to acquire Source Inc., a specialist in wireless networking, Internet of Things (IoT), and POTS replacement solutions, underscores their commitment to scaling intelligent and secure networking services. Chicago-based private equity firm, CIVC Partners, supports this acquisition as part of their investment strategy in high-growth middle market companies within the business services sector. Ropes & Gray's team was instrumental in facilitating the rollover equity and acquisition financing aspects of the transaction, which was announced through a press release on March 12, 2023.
Sectors
- Networking Solutions
- Private Equity
- Legal Advisory
Geography
- United States – INS, CIVC Partners, and Ropes & Gray are all based in the United States, making it the geographic focus of the transaction.
- Chicago – CIVC Partners is headquartered in Chicago, indicating a regional interest in investment activities.
Industry
- Networking Solutions – The transaction focuses on expanding INS's networking solutions, including enhancements to their wireless and IoT technologies.
- Private Equity – CIVC Partners, a private equity firm, provided backing for the acquisition, highlighting its role in the investment strategy.
- Legal Advisory – Ropes & Gray provided legal advice for the acquisition, highlighting the importance of legal and financial structuring in transactions.
Financials
- Not Disclosed – The financial terms of the acquisition were not publicly disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Industrial Networking Solutions (INS) | Acquirer | Company | A company specializing in networking solutions, cybersecurity, and managed services. |
| Source Inc. | Target Company | Company | A technology solutions provider specializing in wireless networking and IoT solutions. |
| CIVC Partners | Private Equity Backer | Company | A private equity firm focused on investing in high-growth middle market companies. |
| Ropes & Gray | Legal Advisor | Company | A law firm that represented INS and CIVC Partners in the transaction. |