Hammond, Kennedy, Whitney & Company Inc has acquired Camarillo, California-based Xirgo Technologies Inc, a provider of wireless telematics modules for tracking, monitoring, protecting and controlling remote assets and workers supporting the internet of things sector. No financial terms were disclosed.
Indianapolis, IN – Hammond, Kennedy, Whitney & Company, Inc. (“HKW”) announced that it closed on the acquisition of Xirgo Technologies, Inc. (“Xirgo” or “Company”) on December 1, 2016. Xirgo, headquartered in Camarillo, California, is a leading provider of wireless telematics modules for tracking, monitoring, protecting and controlling remote assets and workers supporting the Internet of Things (“IoT”) growth sector.
Roberto Piolanti, CEO of Xirgo, stated, “We are excited to partner with HKW as we continue to expand our business. HKW has great respect for the technology we’ve built and taken to market, for our incredible team, and for our culture. We believe we can move more effectively by leveraging HKW’s access to capital and resources in a way that we would be unable to do on our own or with any other partner.”
“We are pleased to partner with Roberto Piolanti and the rest of the Xirgo management team as they continue to build a tremendous organization in the evolving IoT sector. We feel fortunate they chose HKW as their investment partner and look forward to supporting them in the Company’s next phase of growth,” said Luke Phenicie, HKW’s Lead Transaction Partner. “Xirgo’s product differentiation and strong customer relationships combined with its talented team and industry growth prospects make this an exciting new platform investment for us. We look forward to a successful partnership with Xirgo in the expanding IoT sector.”
Xirgo was represented by Near Earth LLC in this transaction.
About HKW – HKW is a private equity firm founded in 1903 with offices in Indianapolis and New York. Since 1982, HKW has sponsored 53 platform transactions of lower middle-market companies throughout North America, as well as 56 add-on acquisitions. For further information on HKW, please visit www.hkwinc.com.
About Xirgo Technologies – Xirgo Technologies is a leading supplier of innovative, high-value M2M communication platforms with exceptional quality and scale. Xirgo facilitates significant time-to-market advantages and enables customers and partners to quickly realize powerful and highly differentiated solutions for their customers, markets and stakeholders. For more information on Xirgo Technologies, please visit www.xirgotech.com.