RACO Wireless

Status: Past
Initial Investment: September 2012
Location: Cincinnati, OH
Investment Type: CEO-Led Recapitalization
Investment Industry: Software & Technology

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 deployment and 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 provided capital to build a diversified M2M solutions provider through continued organic growth as well as strategic acquisitions. After a hold period of less than 3 years, RACO was acquired by KORE Wireless to form one of the largest M2M players in the industry.

 

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