ANN ARBOR — Plymouth Management Co. announces its fifth investment from Plymouth Venture Partners Fund II in UICO LLC of Elmhurst, Ill.
UICO designs and manufactures the world’s leading family of industrial grade projected capacitive touchscreens under the brand duraTouch. UICO’s innovative technology enables equipment manufacturers to deliver proven, best-in-class touch features in extreme environments of use including industrial, military, and all-weather.
UICO’s products are differentiated and especially well-situated for these markets due to their ability to deliver products with high resolution, while combining the features of full functionality in a wet environment, while using gloves, all with thick and durable touch screen materials.
Plymouth was attracted to UICO due to its leading edge touch screen technology, strong management team, the traction the company has had with major companies throughout the United States, and the rapidly growing market in which it operates.
Mark Horne, PMC’s CEO, noted that “UICO has developed a unique, feature rich product that is experiencing growing demand. The industry’s move to PCap technology is expected to be a large driver in pushing customers to the UICO technology. Additionally, we have been impressed with the company’s leadership and are excited to work with the UICO team to bring its products to the forefront of a fast moving industry.”
Bahar Wadia, UICO’s President and CEO, added: “We are pleased to be working with Plymouth Ventures as we enter the next growth phase in our company’s progression. The financing round they led will make it possible to fully deploy our strategy, allowing us to better service our customers and capture a large portion of a rapidly growing market for durable touch screens.”
Plymouth Management Co. Partner Jeff Barry will take a board seat with the company and assist UICO in achieving further growth.
Plymouth Venture Partners II L.P. is a follow-on fund to Plymouth Venture Partners Fund I. PVP I became fully invested in 2009 after completing investments in 29 companies. Plymouth Venture Partners II invests in growth stage companies in the Great Lakes region. For more information, please visit www.plymouthvc.com.