EP Technology Group LLC acquired JBI Technologies Inc., a hotel technology provider, in a deal intended to broaden services for JBI’s hospitality customers, according to the companies and JBI’s adviser.
EP announced the acquisition Aug. 28 and said the companies had joined forces. Viking Mergers & Acquisitions, which represented JBI, said in an Oct. 16 release that JBI had been acquired. Neither announcement specifies when the transaction closed or discloses its price.
Viking described JBI as a business serving only the hospitality industry, with work that includes hotel technology systems, new construction projects, cabling, IT installations and ongoing support. EP said JBI customers would gain access to its low-voltage design, computer-aided design, software development and artificial intelligence integration services, along with structured cabling and infrastructure work.
EP said JBI would retain its staff, client relationships and day-to-day operations. JBI founder Jerry Balousek will remain in a leadership role, the company said. In August, Balousek said the combination would let JBI continue providing the service and hospitality expertise its customers value.
Viking said Balousek sought a partner to help JBI expand while preserving its customer-focused culture. The adviser linked the acquisition to EP’s plans to grow its managed-services and technology-infrastructure capabilities. Viking said the sale process attracted significant buyer interest but did not give a count. Andrew Hakkarainen, a Viking associate partner, said JBI had built a “strong reputation” in a specialized part of the technology services industry. Hakkarainen and adviser Max Roix represented JBI, Viking said.
The announcements also give different accounts of JBI’s history. Viking said the company was founded in 2011, while EP’s August announcement described it as a hospitality technology partner for more than 25 years. Neither announcement explained the difference.
