Advatek deal closed
Advatek Systems purchased by Management Team
(Moncton, New Brunswick January 2, 2020) Advatek Systems of Moncton, NB was acquired by the management team and a group of investors. The company was previously owned by VistaCare Communications of Halifax. Advatek Systems has been in business for over thirty years and is led by veteran General Manager Jason Forster with leadership and oversight by the owners Mike McCarther, Phil Diochon, Ryan Corkum and investors / advisors Paul Leblanc and Paul Jenkins.
Advatek Systems Inc was established in 1987 with a mandate to provide automated data collection systems. Advatek is a complete solution provider for hardware such as scales, barcoding equipment, customized software, consumables including label stock and ribbon as well as electronic data collection systems. When these systems are designed, emphasis is placed on making them a viable solution for industrial and harsh environments. “Moving to this next chapter with an ownership group focused on technology brings even more opportunities as we’ll be able to move quicker and pursue our growth plans,” said Advatek General Manager, Jason Forster.
Jason Forster was hired on full time at Advatek Systems as a systems programmer in 1988. Over the course of the next twenty-two years Jason would become integral in the day to day operations of Advatek Systems. Jason assumed the General Manager role in 2018 and will work closely with the new ownership team on all strategic and growth initiatives. Mike McCarther assumes role of President while Phil Diochon assumes role of Vice-President to support Jason Forster in the day-to-day operations of Advatek. Ryan Corkum assumes the Treasurer role with serial entrepreneurs and investors Paul LeBlanc of 7th Wave Capital and Paul Jenkins of Charlottetown lead the board of advisors.
“Advatek has been here for 30 years and has very solid customer relationships that allow us to build off of and implement growth plans to expand Advatek across the Maritimes,” said McCarther. “We have been focused on mapping out growth plans while protecting our proven customer service model.”
About 7th Wave Capital
7th Wave Capital was created to help Maritime based entrepreneurs throughout their business journey. Founder Paul Leblanc, is a life long serial entrepreneur and has amassed a board of advisors who are some of the regions top entrepreneurs. 7th Wave takes a minority equity stake in select established Maritime businesses and creates a powerful, knowledgeable and connected board of advisors who help scale the businesses to a new level. It’s widely held by seafarers that the 7th wave is the largest in the set and a trained eye knows how to watch, prepare for and catch this elusive wave for the best possible ride into shore.