Divestiture • Information Technology

Balmoral Funds Acquires Xirgo Technologies

On September 30, 2024, private equity firm Balmoral Funds acquired information technology company Xirgo Technologies from Sensata Technologies

Acquisition Context
  • This is Balmoral Funds’ 1st transaction in the Information Technology sector.
  • This is Balmoral Funds’ 18th transaction in the United States.
  • This is Balmoral Funds’ 2nd transaction in California.

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M&A Deal Summary

Date September 30, 2024
Target Xirgo Technologies
Sector Information Technology
Buyer(s) Balmoral Funds
Sellers(s) Sensata Technologies
Deal Type Divestiture

Target Company

Xirgo Technologies

Thousand Oaks, California, United States
Xirgo Technologies is a provider of IoT solutions, including Xirgo-branded vehicle and asset telematics hardware, SmartWitness AI driver cameras, and Elastic M2M enterprise-class software. Xirgo Technologies is based in Thousand Oaks, California.
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Buyer Overview 1

Buyer

Balmoral Funds

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balmoral Funds is a private equity firm which targets recapitalizations, special situations, and acquisitions of small and middle-market companies. Typical investment candidates are located in the US or Canada, undergoing operational challenges with up to $400 million of revenue. Sectors of interest include manufacturing, business services, consumer products, retail, and value-added distribution. The Firm's target investment size is $5 to $40 million. Balmoral Funds was established in 2005 and is based in Los Angeles, California.


Deal Context for Buyer #
Overall 18 of 20
Sector: Information Technology 1 of 1
Type: Divestiture 5 of 7
State: California 2 of 2
Country: United States 18 of 20
Year: 2024 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-30 DWFritz

Wilsonville, Oregon, United States

DWFritz is a provider of precision metrology, inspection, and assembly solutions for advanced manufacturing. The Company designs, builds, and supports engineer-to-order high-speed, non-contact metrology solutions and automation systems. DWFritz was founded in 1973 and is based in Wilsonville, Oregon. 

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-20 R.H. Sheppard

Hanover, Pennsylvania, United States

R.H. Sheppard is a designer and manufacturer of commercial vehicle steering systems, engine pumps and related products and services at the highest quality standards and supports customers with personal service and flexibility. R.H. Sheppard was founded in 1937 and is based in Hanover, Pennsylvania.

Buy -

Seller Profile 1

SELLER

Sensata Technologies

Attleboro, Massachusetts, United States

Category Company
Founded 1916
Sector Electrical Equipment
Employees19,000
Revenue 3.9B USD (2024)
DESCRIPTION

Sensata Technologies is a provider of sensing, electrical protection, control, and power management solutions with operations and business centers in 11 countries. Sensata's products improve safety, efficiency, and comfort for millions of people every day in automotive, appliance, aircraft, industrial, military, heavy vehicle, heating, air-conditioning and ventilation, data, telecommunications, recreational vehicle, and marine applications. Sensata Technologies was founded in 1916 and is based in Attleboro, Massachusetts.


Deal Context for Seller #
Overall 2 of 2
Sector: Information Technology 1 of 1
Type: Divestiture 2 of 2
State: California 1 of 1
Country: United States 1 of 1
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-26 Dynapower

South Burlington, Vermont, United States

Dynapower is a designer and manufacturer of custom, high power AC and DC power supplies, energy management systems and power transformers for the mining, metal finishing, electrochemical, military and energy management end markets. Dynapower was established in 1963 and is headquartered in South Burlington, Vermont.

Buy $580M