Private-Equity Firm Invests In OptConnect

Posted On: 12/14/2017

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KAYSVILLE, UT -- OptConnect LLC said a "significant" financial investment from Philadelphia-based private-equity firm Graham Partners will accelerate its growth. Terms of the deal were not disclosed.

Members of Grant Victor, the prior parent company representing the founders and previous leadership of OptConnect, will retain an investment in the company.

OptConnect provides managed cellular wireless connectivity solutions for unattended equipment in the machine-to-machine and emerging Internet of Things marketplaces, including micromarkets, digital signage, ATMs and self-service kiosks. Its solution focuses on providing connectivity by using a combination of device configurations, cloud-based remote monitoring software and integration with cellular carriers.

Graham Partners managing principal Rob Newbold said the private-equity firm will draw from its experience in the IoT space and the ATM industry, and with cash trends, to add value to OptConnect going forward.  

OptConnect, headquartered in Kaysville, UT, said it is benefiting from the industrywide conversion to managed connectivity solutions, the transition from traditional wireline services towards wireless networks and the broader trend towards connected devices with IoT functionality.

The company says it serves more than 3,000 customers with more than 85,000 installed wireless units around North America.