Renovo Capital sells a majority stake in Otodata, a Montreal-based maker of remote tank monitoring technology that also runs a vehicle tracking business, to GI Partners. Renovo and Otodata's management will keep a minority position.
Founded in 2010, Otodata now monitors more than 3.5 million tanks worldwide, and its Tag Tracking unit provides anti-theft and stolen vehicle recovery services in Canada. Renovo invested in 2020 and has since helped the company develop its own manufacturing capabilities and expand into new regions and industries.
GroveStreet first became a Renovo LP in 2016. Read more about the deal here.
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