Existing shareholder Renovo Capital and the company’s management team will retain a minority stake following the transaction. Founded in 2010, Otodata provides full-stack monitoring solutions that allow distributors to track tank levels in real time, reducing operational inefficiencies and preventing supply shortages. Beyond its core tank monitoring business, the company operates Tag Tracking, which provides vehicle recovery and theft prevention services throughout Canada.
In section Releases
GI Partners Secures Majority Stake in IoT Provider Otodata
Private investment firm GI Partners has acquired a majority interest in Montreal-based Otodata, a specialist in remote tank monitoring and vehicle tracking. The deal marks a transition in ownership for the company, which maintains an installed base of over 3.5 million monitored units across global markets.
CEO Jeremy Eaton stated that the partnership will leverage GI Partners’ expertise in digital infrastructure to accelerate expansion into new market verticals. Jerry Stapp, managing director at GI Partners, pointed to the growing influence of artificial intelligence and automation as key drivers for the investment. While the financial terms of the acquisition remain undisclosed, the move signals a commitment to scaling Otodata’s current product roadmap. Evercore and DLA Piper advised Otodata, while Robert W. Baird & Co. and Ropes & Gray represented GI Partners.
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