GI Partners closes majority investment in Otodata

September 8, 2026 By Mason Kopy 0 Comments

GI Partners, a private investment firm, closed on a majority investment in Otodata Holdings Inc., a remote monitoring and vehicle tracking company. Existing shareholders, including Renovo Capital and company management, will retain a minority stake.

Otodata, founded in 2010 and based in Montreal, provides remote monitoring technology for tank assets and says it has an installed base of more than 3.5 million monitored tanks worldwide. The technology lets customers track tank levels remotely to help manage asset use and avoid running out of supply. Otodata also operates Tag Tracking, which provides vehicle tracking, theft prevention and stolen vehicle recovery services through its own communications network in Canada.

“We’re excited to welcome GI Partners as our new majority partner,” says Jeremy Eaton, CEO of Otodata. “GI Partners’ deep experience investing in Internet of Things (IoT) businesses, paired with its operational and digital infrastructure expertise, will help us strengthen our current offerings, better serve current and new customers and accelerate our expansion into new verticals.”

Jerry Stapp, a managing director at GI Partners, says the firm has admired Otodata’s business for years and sees strong growth potential in the IoT sector driven by artificial intelligence, automation and digitization. “We’re excited to partner with Otodata and Renovo to accelerate that momentum through continued investment in the team and product roadmap,” says Stapp.

Matt Farrell, a partner at Renovo, says the firm has worked with Otodata’s management team since its initial investment in 2020, a period in which the company built out manufacturing capacity and expanded both geographically and into new markets. “We are excited to be part of the next chapter with GI Partners,” says Farrell.

Evercore served as financial adviser and DLA Piper as legal adviser to Otodata. Robert W. Baird & Co. served as financial adviser and Ropes & Gray LLP as legal adviser to GI Partners. The financial terms of the deal were not disclosed.

Featured homepage image by LP Gas Staff

Otodata using telemetry to strengthen propane-customer relationships

Colonial Group acquires Foster Fuels

Matador Gas acquires Texas and Arkansas companies