BLOOMFIELD HILLS, Mich.–(BUSINESS WIRE)–#O2Investment–O2 Investment Partners (“O2” or the “Firm”) is pleased to announce the recent sale of its portfolio company, Xobee Networks (“Xobee” or the “Company”) to Brite, a portfolio company of Sole Source Capital (“SSC”).

Headquartered in Fresno, California, Xobee is a leading full-service managed IT services provider, offering cloud, cybersecurity, hosted voice, and other services to a long-tenured SMB customer base across 34 states.

Since O2’s initial investment in January 2022, O2 and management have created significant value through organic and inorganic growth initiatives, with a consistent focus on delivering reliable technology, responsive local support, and proactive solutions that keep businesses running smoothly and securely. Xobee completed and integrated six add-on acquisitions, enhancing and diversifying the Company’s service offerings, customer base, and geographic reach.

“We are incredibly proud and thankful for all of the Xobee team’s hard work and dedication since 2022. Together, we created an industry leader with a truly differentiated service offering, supported by the Company’s collaborative mentality and strong culture. We are grateful to have had the opportunity to partner with the Xobee team and believe they are in good hands with Brite and SSC to take the business to the next level,” said Sam Wegenke of O2 Investment Partners.

“O2 has been a very supportive partner in helping Xobee grow to where we are today. From the onset of our partnership, they believed in our growth philosophy and strategic vision,” said Eric Rawn, CEO of Xobee. “We are also excited about our next chapter in partnership with Brite and SSC and believe their operational expertise, M&A support, and extensive network will help us strengthen our platform and drive continued growth.”

Scott Sussman, Chief Investment Officer at SSC, added, “Xobee is an exceptional addition to Brite. Eric and his team have built a full-suite managed services and cybersecurity platform with a customer-first mentality that matches what has defined Brite for over four decades. Xobee’s capabilities and SMB customer base across 34 states complement Brite’s strength in regulated end markets, and we’re excited to invest behind the team’s continued growth. We thank O2 for being a great partner.”

About Xobee

Founded in 1996, Xobee Networks is a premier managed service provider offering a full suite of technology products and services for small- and medium-sized enterprises. The Company serves more than 1,700 customers in 34 states. Xobee offers computer network support, web design, application programming and other technology services. Headquartered in Fresno, California, the Company has approximately one hundred employees. For more information, visit xobee.com.

About O2 Investment Partners

O2 Investment Partners is a Midwestern based private equity firm that seeks to acquire majority interests in lower middle market B2B services, technology, and select industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management. For more information, visit www.o2investment.com.

About Brite

Brite is a trusted partner delivering integrated and scalable technology solutions that power safer, smarter, and more secure organizations and communities. Headquartered in upstate New York, Brite has satellite branches nationwide. Originally founded in 1983, Brite expertly leverages industry-leading technologies and solutions within IT services, cybersecurity, and public safety technology. For more information, please visit www.brite.com.

About Sole Source Capital

Founded in 2016 by David A. Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy-and-build strategy with significant downside protection. The Firm is headquartered in Dallas, Texas, with offices in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact investor.relations@solesourcecapital.com.

Contacts

O2 Investment Partners, LP
Sam Wegenke

swegenke@o2investment.com