December 17, 2019
GCP Capital Partners IV, L.P. Invests in Geoforce
GCP Capital Partners LLC (“GCP”) closed an investment in Geoforce, a leading provider of global traceability and Track and Trace solutions for field equipment and vehicles. Geoforce offers a cloud-based software platform that delivers a unified view of multiple asset types, including non-powered equipment, powered equipment and vehicles, through ruggedized satellite and cellular-based GPS devices. Its solutions help more than 900 customers in over 70 countries manage dispersed field assets in often chaotic operating environments while reducing maintenance costs, increasing transparency between parties, and improving safety and compliance. Geoforce is the leader in the Oil & Gas market and its solutions are used in many other industries with intensive field operations and remote equipment, including agriculture, construction, mining, transportation, logistics and rail.
GCP has recent experience in the IoT space though its investment in Cantaloupe Systems, the vending industry’s premier provider of cloud-based, mobile technologies that deliver an integrated end-to-end vending and payments solution. USA Technologies acquired Cantaloupe Systems at the end of 2017. In addition to IOT, GCP has also been an active investor in the software space.
Combining a cloud-based software platform with ruggedized GPS tracking devices and global satellite and cellular networks, Geoforce’s Track and Trace solutions bring control to often chaotic field operations. With over 900 customers tracking more than 140,000 assets in 70+ countries, the company operates the world’s largest network of connected field equipment within the Oil & Gas industry, and its solutions are used in many other field operations intensive industries, including agriculture, construction, mining, transportation, logistics, and rail. Headquartered in Dallas, Texas, Geoforce has R&D offices in Bozeman, Montana, sales and support offices in Houston, Texas, Denver, Colorado, Arroyo Grande, California, Macae, Brazil, and Melbourne, Australia, and sales and service professionals in West Texas and South Louisiana. For more information, visit www.geoforce.com.
About GCP Capital Partners
GCP Capital Partners is a middle market private equity investment firm managing three active funds with $1.4 billion in committed capital. GCP has completed over 60 transactions since its inception in 2000. GCP has been an active investor in the software and technology industries, having invested over $600 million in fourteen investments in these sectors. GCP’s managing directors have over 100 years of combined private equity experience and have substantial personal capital invested in the funds. GCP Capital Partners is the successor to Greenhill Capital Partners, the merchant banking business of Greenhill & Co., Inc. (NYSE: GHL) which the principals formed in 2000. For more information about GCP Capital Partners, please visit www.gcpcapital.com.