January 5, 2021 – Renovo Capital, LLC (“Renovo”) is pleased to announce the acquisition of Otodata Wireless Network, Inc. (“Otodata” or the “Company”) in partnership with its founders. The Otodata transaction highlights one of Renovo’s vertical investment efforts in sensor-based products and follows the acquisition of Rochester Gauges in 2018. Otodata represents the 4th acquisition in this space since 2018.

Founded in 2010, Otodata is a remote monitoring and asset tracking business based in Montreal, Quebec that provides various telemetry products and services for use in industrial tank applications throughout North America. The Company also provides asset tracking and theft prevention devices and services for automobiles in Quebec under the Tag Tracking brand.

André Boulay, President of Otodata, commented, “We are excited to partner with Renovo. Otodata’s industry leading monitoring solutions provide an unmatched value proposition to its customers and create a strong foundation for growth and innovation. With Renovo, we will be further expanding our product capabilities into other end markets and geographies.”

The acquisition of Otodata launches a new platform investment in the industrial asset tracking and remote monitoring space in partnership with industry executive and Renovo operating partner Frank Guidone. Frank is also the Chairman of Renovo’s sensor platform, Rochester Gauges, LLC.

Matt Farrell, Principal of Renovo, commented, “We are thrilled to partner with the Otodata team in the rapidly growing telemetry space. Otodata has built a unique business based on leading edge technology, great customer service and competitive pricing. As Otodata enters its second decade of operations, we believe it is the ideal platform for growth in remote monitoring into other end markets and outside North America.”

Renovo and Otodata will be actively pursuing additional acquisition opportunities within remote monitoring and asset tracking as it looks to aggressively expand its product portfolio and geographic reach.

About Otodata

Otodata Wireless Network, Inc. (www.otodatatankmonitors.com) is an industrial remote monitoring and asset tracking business based in Montreal, Quebec that provides remote tank monitoring products and services to the residential and commercial propane space in the U.S. and Canada. The Company also provides asset tracking and theft prevention devices for automobiles in Quebec under the Tag Tracking brand.

About Renovo

Renovo Capital is a Dallas, TX-based private equity investment firm that invests in lower middle market specialty manufacturing and business services companies. Since its founding in 2009, Renovo has expanded from three founding members to 15 operating and investing professionals, raised over $400 million in committed capital and completed over 25 transactions. The firm seeks to build strategically valuable business platforms.

For more information, please visit www.renovocapital.com.

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