LineDrive partners with Mauve Capital
LineDrive and Mauve Capital jointly announced the successful completion of a new partnership, effective immediately.
Mauve's managing partner, Michael Abdella, will join LineDrive's existing leadership team as CEO, focusing on business strategy and growth initiatives, while LineDrive's Jim Johnson will continue to serve as president, focusing on the needs of manufacturers, distributors, and end-users.
Founded in 2000, LineDrive represents manufacturers such as DuPont Protection Technologies and Robert Bosch Tool Corporation. LineDrive's turnkey solution lowers manufacturers' costs to serve while elevating their brand and scaling growth. Their nationwide team of more than 60 consultants increases safety awareness and cost-saving efficiency while facilitating the needs of world-renowned end-user corporations.
Abdella holds an MBA from the University of Michigan, and has experience in innovating and implementing 21st century sales, marketing, and data analytic solutions. Abdella's career has been devoted to driving record sales growth at companies such as Huntington National Bank and ADP.
"It's a story of firsts. Jim and the rest of the leadership team at LineDrive built an original and leading company in the industry, and we're now pairing their vision with another industry first with Mauve's investment," said Abdella. "The combination offers opportunities to embrace new technologies, expand our team, target vertical markets, and increase capabilities without losing the dynamic edge that has made LineDrive an industry frontrunner. All of which means our manufacturers can grow with us at an accelerated and unparalleled pace."
"This is an extremely exciting day for LineDrive. Mauve gives LineDrive fresh perspective and capital for growth in our current core strength areas as well as the ability to launch new services. Mauve is vital for LineDrive to consistently exceed market growth faster and more cost effectively than any other solution," said Johnson, one of the founders and president at LineDrive.
Mauve Capital Partners is a privately held investment firm organized to partner with and operate established privately held businesses in North America with annual revenues between $5 and $25 million.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
