Xirgo® Technologies, LLC. acquires Baltic Car Equipment (BCE)

In June 2019, Near Earth LLC announced that Xirgo® Technologies, LLC an affiliate of its client HKW, entered into a definitive agreement to acquire Baltic Car Equipment (“BCE”), and its subsidiaries. Based in Kaunas, Lithuania, BCE provides a wide range of telematics devices for vehicles and other applications. In addition, it operates a SaaS based telematics application platform in local markets. BCE has over 90 employees and offers its products and services in over 90 countries.  BCE will begin operating under the brand, Xirgo Global. http://www.xirgoglobal.com

Shawn Aleman, CEO of Xirgo® Technologies, LLC stated, “This acquisition is part of Xirgo’s strategic growth plan to expand its reach into the European market and beyond. The BCE acquisition provides a complimentary product portfolio to Xirgo’s existing product lines, additional engineering talent that will accelerate new product development and an expanded sales team that will focus on growing sales in new and emerging markets.“

Xirgo® Technologies, LLC develops and manufactures innovative IoT solutions. Xirgo’s asset-monitoring products are proven in verticals throughout the world where customization and scalability are essential requirements for client success.  Xirgo has provided world-class solutions in the realm of telematics, fleet management, heavy equipment, asset tracking, usage based driving, high-risk vehicle finance, cold chain, and rental applications. Xirgo delivers a high-value set of custom products for our partners, and a comprehensive product line that is sold through direct and indirect channels. More information regarding Xirgo is available at https://www.xirgo.com/

About HKW – HKW is a private equity firm investing in growth-oriented companies with talented management teams in the US and Canada. HKW targets small to mid-size companies in the Business Services and Health & Wellness sectors. Since 1982, HKW has sponsored 60 platform transactions of lower middle-market companies as well as 64 add-on acquisitions. For more information on HKW, please visit https://www.hkwinc.com/

About Near Earth LLC – Near Earth is a specialized investment bank serving the satellite, aerospace and M2M telematics sectors. Near Earth offers its clients a portfolio of services including mergers and acquisitions advisory for buyers and sellers, private placements, valuations and financial consulting services. More information about Near Earth is available at http://nearearthllc.com/