Calabasas Capital is pleased to announce the successful recapitalization of its client, Blue Sky Network, LLC, (“Blue Sky” or the “Company”) by an affiliate of Kerwood Capital Partners, LLC (“Kerwood Capital”). Blue Sky is a communications software and services company based in La Jolla, California. Blue Sky offers a proprietary cloud-based fleet management and tracking solution to a diversified client base in the airline, marine and trucking industries.
Kerwood Capital is a Los Angeles-based entrepreneurial investment firm focused on lower middle market companies. Kerwood Capital is a search fund which acquires only one company at a time and its principals operate the businesses they acquire.
The founding shareholder of Blue Sky Network retained a significant ownership stake in the company as part of the transaction. The principals of Kerwood Capital will assume primary management responsibilities. The transaction was funded by a combination of equity and debt.
David Bonrouhi, Managing Director of Calabasas Capital said, “We are honored to have had the opportunity to work with Blue Sky Network and its other advisors on this transaction. The Company has an impeccable reputation in its industry and enjoys a solid and growing base of recurring revenue, which led to a very high level of interest from many parties. Kerwood Capital stood out from the crowd with its strong industry knowledge, solid financial backing, and the integrity they demonstrated to us and the Company during the deal process.”