ParkerGale-Backed One Plus Adds SmartBin, Maker of Garbage Gauge
ParkerGale Capital LP-backed One Plus Corp. acquired sensor technology company SmartBin for an undisclosed amount. The PE firm invested in One Plus in December 2015.
SmartBin based in Dublin, Ireland, and founded in 2015, makes sensor technology that is used to monitor fill levels for waste and recycling management. Its software is also used by collectors to plan their routes. The target serves more than 100 customers in 25 countries. “SmartBin’s technology perfectly complements our own and will enable One Plus to service smaller waste receptacles likes bins, dumpsters and liquid containers,” says One Plus CEO Klaus Voss.
One Plus, formed in 1989 and located in Northbrook, Illinois, offers sensor technology for the waste management sector. Its technology is designed to monitor the fullness and usage of trash containers based on real-time data. Some of One Plus’ clients include General Electric Co. (NYSE: GE), Lowe’s Cos Inc. (NYSE: LOW) and Home Depot Inc. (NYSE: HD).
ParkerGale is a technology-focused PE firm in Chicago that was launched in 2014 by a team of investors previously with Chicago Growth Partners. For more on ParkerGale, see Breaking Away: Younger PE Pros Spin Off. In 2015, the PE firm completed the purchase of aerospace data company Aircraft Technical Publishers from its founders.
In other technology deals, Bregal Sagemount acquired financial data services provider Discovery Data; Genstar Capital purchased real estate software company Accruent; and Siris Capital Group LLC agreed to buy mobile software maker Xura Inc. (Nasdaq: MESG).