Harris Williams, a global investment bank specializing in M&A advisory services, is advising Xirgo Technologies, a portfolio company of HKW, on its pending sale to Sensata Technologies.
Xirgo is a provider of application-specific wireless IoT communication devices for tracking, monitoring and protecting remote assets and workers across an array of end markets. The transaction is being led by Giles Tucker, Eric Logue, Chris Toussaint and Nick Kron of the Harris Williams’ industrials group and Andy Leed of the firm’s technology group.
“Xirgo is a pioneer of wireless telematics and asset tracking devices for the IoT growth sector and is recognized throughout the industry for its innovative solutions and extensive software and engineering capabilities,” Tucker said. “Xirgo’s advanced asset tracking and telematics communication solutions, combined with Sensata’s leading sensor portfolio, offer a compelling platform in the rapidly evolving smart and connected IoT ecosystem. It was a pleasure working with the Xirgo and HKW teams on this transaction, and we are excited to have found a partner that shares in management’s strategic vision for the business.”
“This transaction highlights the interest from corporate buyers in sectors such as industrial connectivity and data analytics, which offer significant growth potential and are early in the adoption curve,” Logue said. “Xirgo represents another marquee transaction for Harris Williams in the industrial technology sector, and we are thrilled to have advised the company and HKW.”
