HKW announced this week that its portfolio company, Xirgo Technologies LLC, has acquired UAB Baltic Car Equipment (BCE) based in Kaunas, Lithuania.

Founded in 2006, BCE provides a variety of fleet management solutions, including hardware and software suites for light vehicles, trucks, heavy machinery and agricultural equipment targeting a variety of industries.

“We are very excited to welcome the BCE team to Xirgo,” Said Shawn Aleman, CEO of Xirgo. “The joining of our companies will allow Xirgo to establish a European footprint improving our access to Europe, the Middle East and Africa, enabling our companies to target new customers and better serve our existing clients. BCE’s product offering will also provide select North American customers access to customized end to end solutions.”

Luke Phenicie, HKW’s lead transaction partner and chairman of Xirgo’s board of directors, added, “BCE’s geographic footprint and mix of products complement Xirgo’s existing portfolio quite well. We are looking forward to working with founder, Andrius Zabulionis, and director, Giedrius Žibikas, as well as their talented team on this opportunity. We also feel fortunate to continue HKW’s support of Xirgo as it continues its expansion in the IoT sector.”

Near Earth LLC, a specialized investment bank serving the satellite, aerospace and M2M telematics sectors, acted as financial and strategic adviser to Xirgo.