OptConnect, LLC announced that its high growth will be further accelerated by a significant financial investment from Graham Partners, a private investment firm based in suburban Philadelphia, PA.
OptConnect is a leading provider of managed cellular wireless connectivity solutions for unattended equipment in the Machine to Machine (M2M) and the emerging Internet of Things (IoT) marketplaces. Chris Baird, President of OptConnect, said, “Graham’s industry expertise and experience investing in the IoT and smart safe industries resonated with the OptConnect team. We are thrilled to be working together with Graham as we continue the legacy of delivering meaningfully unique solutions for our customers for many years to come.”
Graham Partners will utilize their prior experience in the IoT space, the ATM industry, and with cash trends to add value to OptConnect going forward. Rob Newbold, Managing Principal at Graham Partners, stated, “OptConnect is a leading, innovative player in the industry with superior technology, deep customer relationships, and strong business practices. Graham plans to leverage the company’s leading market position and continue its expansion into high-growth IoT end markets.”
OptConnect is benefiting from the industry-wide conversion to managed connectivity solutions, the transition from traditional wireline services towards wireless networks, and the broader trend towards connected devices with IoT functionality. Members of Grant Victor, the prior parent company representing the founders and previous leadership of OptConnect, will retain an investment in OptConnect. The transaction terms were not disclosed. OptConnect was advised by R.W. Baird.