Cardo Systems announced that EMK Capital acquired Cardo Systems from Fortissimo Capital and Dr. Abraham Glezerman, its Founder and Chairman. Financial details of the transaction were not disclosed.
Cardo designs and markets wireless mesh communication systems for motorcycle riders, skiers, site workers, and other groups and individuals in motion. The Company’s innovative products backed by proprietary, cutting-edge technology allows groups to communicate wirelessly with one another and connect safely to hands free services (e.g. mobile phone, music streaming, radio and GPS). Cardo is a premium brand that addresses a global enthusiast market, and its products are sold in over 80 countries. Headquartered in Israel, with operations in the Americas, Europe and Asia, Cardo employs over 100 people worldwide.
Dr. Abraham Glezerman founded Cardo in 2003. A year later, the newly formed company was the first to introduce personal Bluetooth-based communicators to the motorcycle industry, adding a completely new product category to this accessory market. To date, the company sold over 6 million communication devices world-wide.
“The sale of Cardo to EMK signifies a significant milestone in the Company’s record of achievements”, said CEO Alon Lumbroso, “Over the past few years, Cardo has evolved into a successful, high-growth, profitable company serving the wider wireless communications market for groups and individuals in motion. Today Cardo is the clear technology leader in its field, with a global presence.”
“EMK is delighted to have acquired Cardo”, said EMK Capital, “We have been deeply impressed by the track record of innovation at Cardo, and the continuous investment in research and development to produce world-beating products. We are looking forward to working closely with the Cardo team to help take the business to new heights. EMK’s vision is to support top class management teams to achieve transformational growth and build world class businesses which are leaders in their markets.“
Lincoln International and Discount Capital served as exclusive financial advisors to Fortissimo Capital and Dr. Abraham Glezerman, and Meitar provided legal counsel. GCA Altium served as exclusive financial advisor to EMK Capital, and Meitar provided legal counsel. See Cardo’s full wireless system lineup on their website
