Northlane Capital Partners (“NCP”) announced today that its portfolio company, Multi-Tech Systems, Inc. (“MultiTech”), a leading global supplier of Internet of Things (“IoT”) devices, services, and solutions, acquired Radio Bridge Inc. (“Radio Bridge”), a Minnesota-based designer and manufacturer of long-range wireless sensors for the IoT industry. This marks MultiTech’s second add-on within the past nine months.
The acquisition will create an integrated portfolio of sensors and IoT connectivity devices, providing OEMs, system integrators and solution providers with a simplified path to develop and deploy new connected solutions across a range of IoT applications. Together, the companies will offer seamless integration based on an open architecture, and a cloud-based management console for provisioning, monitoring, and configuration of sensors and gateways. This will help to shorten time to market, simplify device management, and lower the total cost of ownership throughout the life cycle of customer solutions.
“We are excited to add the Radio Bridge LoRaWAN sensor products to our portfolio and welcome the Radio Bridge team to MultiTech. Radio Bridge has an excellent reputation for rapid innovation and customer support. Together we can further simplify and improve our customers’ experience,” said Stefan Lindvall, CEO of MultiTech. “As a single supplier we can bring more pieces together eliminating complexity for our customers, while accelerating future development to bring new innovation to market.”
“MultiTech is a longstanding leader in LoRaWAN infrastructure, and due to the rugged reliability, intelligence and extensibility of their gateway portfolio, MultiTech has always been our first choice for LoRaWAN connectivity,” said Steve Kilts, CEO of Radio Bridge. “We are very pleased to join the MultiTech team to jointly offer the world’s most comprehensive LoRaWAN-based sensor to cloud portfolio of products.”
David Steinglass, Partner at NCP, noted, “With the addition of Radio Bridge to the MultiTech platform, we believe MultiTech has further established itself as a unique supplier of integrated connectivity solutions. These solutions include sensors, embedded communications devices, modems and gateways, cloud connectivity, and device management services. In addition, the company has enhanced its capabilities in the areas of custom design and application development.”
ABOUT MULTITECH
MultiTech makes work and life better by leveraging sensor and connectivity technology to bring systems and processes into the future and drive new revenue streams and efficiencies. MultiTech’s extensive portfolio of technologies, paired with design, integration, and manufacturing expertise, results in unparalleled performance, simplicity, and user experience. MultiTech never stops looking for novel ways to solve problems with technology, and continues to deliver industry firsts for customers. For more information, please visit www.multitech.com.
ABOUT NORTHLANE CAPITAL PARTNERS
Based in Bethesda, MD, NCP is a middle market private equity firm focused on key segments within the healthcare and business services sectors, where its principals have invested more than $1.5 billion of equity capital. NCP’s strategy is to partner with industry-leading companies and great management teams, aligning incentives to accelerate growth and build value. NCP was recently named to Inc.'s 2020 Private Equity 50 list of the top founder-friendly private equity firms and Grady Campbell’s 2021 list of Top 50 Private Equity Firms in the Middle Market. For more information, please visit www.northlanecapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210622005231/en/
Contacts
David Steinglass, Partner
(301) 841-1360
Justin DuFour, Partner
(301) 841-1375
Charlie Donahue, Vice President
(301) 272-9991
