Business Overview
SIXNET is a leading manufacturer of industrial wireless, process automation, and ethernet connectivity products used in harsh industrial, commercial and military applications. The company's products are used in applications across a variety of diverse industries, and are available through an international network of independent distributors and system integrators. SIXNET also has a comprehensive program for OEMs to private label existing or custom products.
Investment Summary
In 2005 the founder owners, whose personal wealth was primarily in the form of their ownership of SIXNET equity, sought to diversify their financial holdings while simultaneously providing SIXNET with capital and other resources necessary to accelerate the company’s growth. They found themselves in need of a partner that would bring financial, strategic and operating expertise to enable them to realize the full potential of the business through product expansion and strategic acquisitions. Riverside has utilized its extensive network of technology contacts to help the founders augment an already strong management team, including the addition of a highly experienced CEO from a large, publicly traded networking company.
SIXNET’s leadership position within the industrial communications industry presents numerous growth opportunities. Specifically, Riverside and management saw an opportunity to capitalize on the future growth in wireless industrial communications. Riverside identified several add on acquisitions in this area which had the potential to accelerate SIXNET’s wireless market entry.
As a result of Riverside’s targeting efforts, in 2007, SIXNET completed a take-private merger with Blue Tree Wireless, a Canadian based company with excellent technology and management. The acquisition positions SIXNET with a complete and highly flexible suite of ethernet, fiber optic and wireless cellular end-to-end products that will enable Industrial and machine to machine communication companies worldwide to successfully grow into the future with SIXNET-enabling technology.