RACO Wireless

RACO Wireless

Status: Past
Initial Investment: September 2012
Location: Cincinnati, OH
Investment Type: CEO-Led Recapitalization
Investment Industry: Business Services

Harvey & Company initiated and participated in the acquisition of RACO Wireless, a machine-to-machine (M2M) wireless connectivity services business. The Company is a leading provider of wireless data systems to the M2M industry, offering innovative products and services that simplify mobile device management, reduce costs, and ensure the availability of mission critical mobile applications. The Company services a variety of end markets including: fleet management, healthcare, monitoring & control, and point-of-sale transaction processing. Harvey & Company initiated the acquisition and subsequent recapitalization of RACO with a Philadelphia-based private equity group. Prior to the acquisition, the company had proven its model with back-to-back years of 300%+ organic growth. The transaction will provide capital to build a diversified M2M solutions provider via continued organic growth as well as strategic acquisitions. RACO’s existing management team, including founder Rob Adams, will continue to lead the company through this next phase of growth.

 

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