M&A Deal Summary

KORE Acquires RACO Wireless

On December 15, 2014, KORE acquired communications company RACO Wireless from Inverness Graham Investments and Harvey & Company

Acquisition Highlights
  • This is KORE’s 1st transaction in the Communications sector.
  • This is KORE’s 1st transaction in the United States.
  • This is KORE’s 1st transaction in Ohio.

M&A Deal Summary

Date 2014-12-15
Target RACO Wireless
Sector Communications
Buyer(s) KORE
Sellers(s) Inverness Graham Investments
Harvey & Company
Deal Type Add-on Acquisition

Target

RACO Wireless

Cincinnati, Ohio, United States
RACO Wireless is a provider of wireless data solutions to the M2M industry offering innovative products and services that simplify mobile device management, reduce costs and ensure the availability of mission-critical mobile applications.

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Buyer(S) 1

Buyer

KORE

Alpharetta, Georgia, United States

Category Company
Founded 2002
Sector Communications
Employees600
Revenue 277M USD (2023)
DESCRIPTION

KORE is a trusted advisor delivering mission-critical IoT solutions and services. KORE empowers organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers’ business outcomes. KORE was founded in 2002 and is headquartered in Atlanta, Georgia.


DEAL STATS #
Overall 1 of 7
Sector (Communications) 1 of 4
Type (Add-on Acquisition) 1 of 6
State (Ohio) 1 of 1
Country (United States) 1 of 6
Year (2014) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-09 Wyless

Lawrence, Massachusetts, United States

Wyless, inc. (Wyless Group Holdings) is a provider of Internet of Things (IoT) to empowers businesses to their full potential.

Buy -

Seller(S) 2

SELLER

Inverness Graham Investments

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Inverness Graham Investments is the private equity arm of The Graham Group. The Firm looks to make controlling investments in lower mid-market companies throughout the US. Inverness targets capital-efficient businesses with strong/sustainable cash flow, differentiated products, and operating in growing markets. The Firm seeks to commit $20 to $80 million in companies valued up to $75 million. Sectors of interest include aerospace/defense, biotech/pharmaceuticals, building materials, business services, consumer services, packaging, industrial equipment/components, electronic equipment, food/beverages, medical devices/supplies, energy & power products/services, specialty chemicals, and technology hardware. Prospective transaction situations include buyouts, growth capital financings, recapitalizations, consolidations, and divestitures. Inverness Graham Investments was formed in 2003 and is based in Philadelphia. The Firm has an additional office in Los Angeles.


DEAL STATS #
Overall 6 of 17
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 3 of 9
State (Ohio) 1 of 1
Country (United States) 6 of 17
Year (2014) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-08 Danville Materials

San Ramon, California, United States

Danville Materials, Inc. designs, formulates and manufactures a range of intra-oral air abrasion and micro-etching equipment as well as consumable dental materials used by dentists globally.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-14 Spirion

St. Petersburg, Florida, United States

Spirion is a provider of IT security and data privacy software. The company serves a broad slate of sophisticated customers, many of which operate internationally. Spirion has grown quickly thanks to its unique solution, which helps customers identify, classify, monitor and protect sensitive information stored throughout an IT ecosystem. Its software lets clients automatically remediate issues with sensitive data, such as deleting duplicative files, redacting information and applying permissions, among other actions.

Buy -
DESCRIPTION

Harvey & Company is a principal investment and advisory group. The Firm works with companies and private equity firms on acquisition searches as well as makes investments of its own. Harvey & Company was established in 1998 and is headquartered in Newport Beach, California.


DEAL STATS #
Overall 17 of 35
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 7 of 18
State (Ohio) 1 of 2
Country (United States) 16 of 34
Year (2014) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-23 Robb Report Media

Los Angeles, California, United States

Robb Report Media LLC is a provider of publishing businesses for more than two decades. Robb Report Media with its current family of publications serves the ultra-luxury markets with a powerful network of leading lifestyle publications, including the world's most acclaimed journal of connoisseurship, Robb Report, as well as The Robb Report Collection, Art & Antiques, Robb Report Sports and Luxury Auto and Robb Report Vacation Homes. Robb Report Media is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-28 Del Taco

Lake Forest, California, United States

Del Taco offers a unique variety of both Mexican and American favorites such as burritos and fries, prepared fresh in every restaurant's working kitchen with the value and convenience of a drive-thru. Del Taco's menu items taste better because they are made with quality ingredients like freshly grilled chicken and carne asada steak, fresh house-made guacamole, freshly grated cheddar cheese, slow-cooked beans made from scratch, and creamy Queso Blanco. It serves more than three million guests each week at its approximately 600 restaurants across 16 states. Del Taco’s commitment to providing guests with the best quality and value for their money originates from cooking, chopping, shredding, and grilling menu items from scratch. Del Taco was founded in 1964 and is based in Lake Forest, California.

Sell -