GI Partners, the San Francisco-based alternative investment firm with more than $50 billion raised since 2001 across private equity, real estate, and data infrastructure strategies, has acquired a majority interest in Otodata Holdings, the Montreal-based IoT PROPTECH company founded in 2010 that provides remote monitoring hardware, software, and applications for more than 3.5 million distributed tank assets across North America, Europe, Latin America, and the Middle East. Existing investor Renovo Capital, which backed Otodata since 2020 and during which time the company expanded manufacturing, geographic presence, and product footprint into additional verticals, will retain a minority ownership position alongside Otodata’s management team. Evercore served as financial advisor and DLA Piper as legal advisor to Otodata; Robert W. Baird served as financial advisor and Ropes & Gray as legal counsel to GI Partners

GI Partners Acquires Majority Stake in Otodata as IoT Platform Monitors 3.5+ Million Tanks Globally