O2 Investment Partners has sold portfolio company Xobee Networks to Brite, a portfolio company of Sole Source Capital. Xobee is a managed IT services provider based in Fresno, California. It serves more than 1,700 small and medium-sized business customers across 34 states.
Growth under O2
O2 first invested in Xobee in January 2022. The company completed and integrated six add-on acquisitions during that period. Those deals broadened its service offerings, customer base, and geographic reach.
Company profile
Xobee was founded in 1996 and employs about one hundred people. The company's technology services include cloud, cybersecurity, and hosted voice. It also offers computer network support, web design, and application programming.
Buyer ownership
Brite is headquartered in upstate New York and has satellite branches nationwide. It provides IT services, cybersecurity, and public safety technology. Sole Source Capital, Brite's owner, is based in Dallas with offices in Santa Monica.
Brite and Sole Source Capital said they will invest behind Xobee's continued growth. The deal pairs Xobee's SMB customer base with Brite's strength in regulated end markets. O2 Investment Partners is a Midwestern private equity firm focused on lower middle market B2B services, technology, and select industrial companies.