The McLean Group’s Technology Practice Advises LineStream in its Strategic Investment
MCLEAN, VA – September 2015 – LineStream Technologies, Inc. (LineStream) has received a strategic investment to facilitate future growth initiatives. LineStream explored a range of transaction alternatives, and through a competitive process, selected a strategic investment from an industry partner as the optimum transaction structure. Financial terms of the deal were not disclosed.
Established in 2006 and based in Cleveland, OH, LineStream is a rapidly growing provider of innovative embedded control software solutions that optimize the behavior of automated products and processes including motor, drive, temperature and process control. LineStream’s revolutionary new software IP replaces legacy Proportional, Integral, and Derivative (PID) control system algorithms and is easily implemented on all automated control platforms such as DSPs, FPGAs, Industrial Drives and Controllers.
The Company partners with industry leaders like Texas Instruments, Siemens, Freescale, Parker Hannifin, and Arrow Electronics and has developed an extensive and valuable patent portfolio in control, equipment health monitoring, and design optimization. The versatility of LineStream’s software positions the company to capitalize on industrial control systems markets as well as other growing industries including robotics, drones, advanced sensing, automotive controls, manufacturing and consumer products.
David Neundorfer, CEO of LineStream commented, “LineStream is excited to take the company to the next level of growth with our new strategic investment partner. This strategic investment will enable us to accelerate the company’s development of technologies in simplifying motor control development and enabling the Industrial Internet of Things (IIoT).” He added, “The McLean Group’s Brent Lorenz and Barbara Papas were the ideal partners for this process. They have both the deep technical industry experience in the semiconductor and engineering software tools space along with the deal expertise needed to successfully complete the transaction. We are very happy with the results they delivered.”
ABOUT THE MCLEAN GROUP
The McLean Group is a leading independent investment bank that provides mergers and acquisitions (M&A), business valuation and strategic consulting services to middle market businesses. Our M&A advisory and valuation services reflect our comprehensive industry knowledge, extensive transactional successes, commitment to provide senior-level attention to every client engagement, and real-time understanding of industry-specific valuation drivers.
The McLean Group’s Technology industry group focuses on advising businesses that provide engineering-related software and services to the technology industry in sectors such as Internet of Things (IoT), Wireless Communications, and Electronics Industry Software. Several team members have degrees in electrical engineering or computer science, and have worked in both technical and senior management roles at established technology companies and startups.