fbpx

EMK Capital to Acquire Cardo Systems

Cardo Systems announced that EMK Capital has acquired Cardo Systems from Fortissimo Capital and Dr. Abraham Glezerman, its founder and chairman.

Cardo Systems announced that EMK Capital has 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.”

“The last four years have been an epic ride, fueled by a world class management team, cutting-edge product innovation, and outstanding teamwork,” said Yuval Cohen, managing partner at Fortissimo Capital. “We had the privilege of partnering with Dr. Abraham Glezerman who founded a fantastic business built on Israeli innovation and creativity. We saw an opportunity to leverage Cardo’s premium brand and superior product offering to accelerate its growth worldwide and into new products. Since our investment, the business has quadrupled in revenues and doubled in headcount. We thank Alon Lumbroso, who took the wheel at Cardo two years ago, and the entire management team for riding with us on this great journey.”

“Leading Cardo’s evolution from an idea to a leading global brand was a unique experience,” said founder and chairman, Abraham Glezerman. “Its success could only have come about thanks to the ever-inspiring dialogue with millions of customers worldwide and due to the creativity, dedication and professionalism of the immensely talented people who work at Cardo and who have contributed to the company’s growth throughout the years.  Once these core company assets met and merged with the entrepreneurial whirlwind of Fortissimo Capital, there was no stopping, and this is further demonstrated by Cardo now becoming a proud member of the EMK Capital family of companies.”

“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.

Links: Cardo Systems, EMK Capital

You May Also Like

Vance & Hines Shakes Up NHRA PSM Team

A young star is added to the team after an impressive debut in 2022.

Gaige Herrera

Vance & Hines have announced the members of the Vance & Hines/Mission/Suzuki National Hot Rod Association (NHRA) Pro Stock Motorcycle (PSM) Team, which will feature four-time champion Eddie Krawiec and 29-year-old Gaige Herrera competing for the 2023 championship. The riders will be aboard Suzuki Hayabusa motorcycles. Six-time champion Andrew Hines returns as crew chief in 2023.

Ironhorse Funding and Full Throttle Announce Partnership to Introduce Refinancing of Motorcycle and Powersports Loans

Ironhorse Funding introduces refinancing offerings to members of the new motocross social platform, Full Throttle.

Ironhorse Funding
Jett Lawrence Lands Another 250SX West Win

Chase Sexton finished fifth after a dramatic night of racing in premier class.

Jett Lawrence
BMW Motorrad Achieves Best Sales Result in Company’s History

Entering the anniversary year with 202,895 motorcycles and scooters sold.

BMW Motorrad

Other Posts

2023 Red Rider Rewards Program Increases Already Competitive Talon SxS Contingency Offerings

The side-by-side offering is well over double last year’s.

Parts Unlimited/Drag Specialties Welcome New Central Region Dual Sales Rep

Trey Crouch will cover Iowa and South Dakota.

Trey Crouch
Pirelli Announces Multi-Year Partnership with Liqui Moly Beta Racing

The seven-rider team will compete aboard Pirelli-equipped Betas and rely on the performance of the SCORPION XC range.

Pirelli, Liqui Moly Beta racing team