April 6, 2021
Ido Zakai, Nir Israel, Kobi Shetret
GCA Altium advises EMK Capital on their acquisition of Cardo Systems
GCA Altium acted as exclusive financial advisor to EMK Capital on their acquisition of Cardo Systems, the industry pioneer and global market leader in wireless communication systems for groups and individuals in motion, from Fortissimo Capital and Dr. Abraham Glezerman, its Founder and Chairman.
Established in 2003 and headquartered in Israel, Cardo Systems has more than 100 employees across its operations in the Americas, Europe and Asia. The firm designs and markets wireless mesh communication systems for motorcycle riders, skiers, site workers, and other groups and individuals in motion. Its innovative products backed by proprietary, cutting-edge technology allow groups to communicate wirelessly with one another and connect safely to hands free services such as mobile phones, music streaming, radio and GPS. Cardo Systems is a premium brand that addresses a global enthusiast market, and its products are sold in over 80 countries.
“The sale of Cardo to EMK signifies a key 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.”
The financial details of the transaction were not disclosed.