A private investment management firm specializing in the biometrics industry called L-1 Investment Partners LLC, Stamford, Conn., has been formed to acquire or make controlling investments in public and private companies.
L-1 plans to add strategic value by providing working capital and management oversight. Market research firms following the biometrics market are projecting annual growth rates in excess of 50 percent for the next several years, reaching a potential $4.5 billion for the industry by 2009, noted Robert V. LaPenta, chairman and CEO of L-1.