Topspin Partners LBO Acquires Hart Systems, INC.

January 28, 2009. Roslyn Heights, NY – Topspin LBO today announced that it has completed the acquisition of Hart Systems, Inc. from the company’s founders, Harvey and Jared Goldsmith.

Hart Systems is a leading provider of inventory counting equipment and services to retailers, primarily in the U.S. and Canada. The company, based in Hauppauge, New York (Long Island), owns a fleet of mobile scanning devices that its customers use to count store inventories. The company also provides the supporting infrastructure and various reporting capabilities as part of its service.

Topspin LBO completed the transaction with financing from Brookside Mezzanine Partners, an affiliate of The Brookside Group that provides debt to small‐ and mid‐sized companies seeking long‐term capital. The Goldsmith family reinvested a portion of their equity into the transaction.

Harvey Goldsmith, co‐founder of Hart Systems, stated, “We built this company over many years and wanted to sell it to a group with the capabilities to ensure its continued growth. Topspin has significant retail and operations expertise, and I am very pleased to have ultimately partnered with them.”

Steve Lebowitz, Managing Director of Topspin LBO, said, “This investment is a great addition to our portfolio. Harvey and Jared have created a great business, and considerable opportunity remains. We look forward to working with the team to expand Hart’s leadership position within the industry.”

Topspin LBO

Topspin LBO is a $132 million, Long Island, NY‐based private equity fund that makes control investments in small businesses with $15 million to $75 million of revenues. The firm often invests in sectors such as consumer products, retail, security, media and publishing, business services, and niche manufacturing. The team at Topspin LBO has considerable industry operations expertise and has partnered with management teams in building businesses of varying stages and sizes, both at Topspin as well as prior firms. Additional information on Topspin LBO can be found at

“This is an exciting time in digital health, and with Topspin’s experience and network in media and information services, they are the ideal partner to help Remedy maximize its potential.”

Mike Cunnion, CEO of Remedy