Lynrock Lake Takes CalAmp Private

Core Insights - CalAmp has successfully completed its restructuring process in less than 60 days, emerging as a private company owned by Lynrock Lake Master Fund LP, which enhances its liquidity for innovation and growth [1][2] Group 1: Restructuring and Financial Position - The company voluntarily initiated Chapter 11 proceedings to efficiently complete the go-private transaction, with the plan confirmed by the court on July 11 [2] - CalAmp eliminated $230 million of debt during the restructuring, which strengthened its balance sheet and improved cash flow generation [2] - The company reported positive quarter-over-quarter revenue growth and improved profitability in its most recently completed fiscal quarter prior to the restructuring benefits [2] Group 2: Leadership and Vision - Under the leadership of CEO Chris Adams, CalAmp navigated the restructuring without operational disruptions, expressing excitement about the renewed financial flexibility to pursue growth opportunities [3] - Cynthia Paul, Chairperson of the new board, highlighted CalAmp's critical technology, compelling product portfolio, and strong customer base as key ingredients for long-term success [3] Group 3: Innovation and Market Expansion - CalAmp remains committed to innovation, customer focus, and operational excellence, leveraging its telematics expertise to develop solutions for various industries [4] - The company aims to foster strong relationships and deliver exceptional value to its global customer base as it embarks on this new stage [4]