Graham Partners’ Portfolio Company Completes Cape-tivating Add-on Acquisition
October 2nd, 2024
PHILADELPHIA
OptConnect Completes Add-on Acquisition of Capestone
Graham Partners (“Graham”), a private investment firm targeting advanced manufacturing and industrial technology companies, is pleased to announce that one of its portfolio companies, OptConnect, LLC (“OptConnect”), a provider of managed connectivity services for Internet of Things (“IoT”) applications, has acquired Capestone. Capestone follows the acquisitions of Premier Wireless Solutions (“PWS”) and M2M DataGlobal (“M2M”), which were completed in November 2021 and January 2024, respectively. With Capestone, OptConnect is able to offer expanded international connectivity with services across North America, South America, and now Europe.
Headquartered in Leiden, Netherlands, Capestone is a provider of managed connectivity solutions and related hardware for IoT applications serving high-growth industries, including healthcare, industrial IoT, and
transportation, among others. Primarily serving the Netherlands, the UK, and Germany, Capestone brings access to the European market, in addition to providing OptConnect with local sales and support teams in these geographies. Acquiring Capestone also establishes relationships with additional global IoT hardware distributors and international carriers, which allows OptConnect to better serve both new and existing customers globally.
Graham’s original investment thesis for OptConnect was premised on the conversion towards outsourced management of wireless connectivity across fast-growing IoT use cases, and Graham believes Capestone is a beneficiary of this same conversion trend in Europe. By focusing on bundled hardware and connectivity solutions, Graham believes Capestone is positioned to be an outsized beneficiary of the growth of IoT and connectivity across Europe. Rob Newbold, Managing Principal at Graham Partners, said “This added geographic expansion into Europe further establishes OptConnect as a scaled, global provider of managed connectivity solutions. We believe we can leverage our successes from the PWS and M2M acquisitions along with Capestone’s leadership in the European managed connectivity market to further accelerate the global growth of the combined platform.”
OptConnect, headquartered in Kaysville, UT, is a one-stop-shop provider of cellular connectivity solutions for unattended, revenue-generating equipment. The company’s solution combines proprietary device configuration, network monitoring and reliable wireless IoT connectivity to provide a cost effective, dependable, and secure total managed platform. The company offers an attractive value proposition to customers with an easy to install, bundled solution designed to meet the evolving needs of IoT customers. Thousands of customers rely on OptConnect for its ‘easy button’ approach, plug-and-play hardware, managed services, and customer care.
FOR FURTHER INFORMATION CONTACT:
Rob Newbold (rnewbold@grahampartners.net)
Christina Morin (cmorin@grahampartners.net)
Tel: (610) 408-0500
This press release is for informational purposes and is not an offer to sell, or a solicitation of an offer to buy, securities in the United States or elsewhere. Graham Partners is not utilizing this release to provide investment or other advice, and no information disclosed therein is to be relied upon for the purpose of making investment decisions. Past performance does not guarantee future results and any transactions described are included as representative transactions and are not necessarily reflective of overall performance. It should not be assumed that any investment described herein was or will be profitable. There can be no assurance that historical trends will continue. Graham Partners' market characterization is based on subjective determinations that it believes reasonable but others may disagree with such characterization. There is no guarantee that Graham Partners' initiatives will drive value for its investments or accelerate growth or lead Graham Partners' investments to become profitable.