HG Ventures first invested in Gauge in 2019, and we have been proud supporters as Gauge has pushed asset management forward. We are thrilled to see Gauge embark on this new chapter under the ownership of XBE.
Banneker Partners, a private equity firm specializing in enterprise software businesses, today announced that its portfolio company XBE has acquired Gauge, an integrated hardware and software solution provider specializing in equipment asset utilization.
Founded in 2009, Gauge has grown to service over 85 customers, deploying more than 40,000 devices to track equipment location and maintenance, maximizing asset availability and utilization. Gauge’s Smart Hub platform combines hardware and software solutions designed for different equipment types and environments, and integrates with various OEM and third-party telematics hardware.
This acquisition marks a significant step in XBE’s growth strategy following Banneker Partners’ investment in January 2024. It is XBE’s second acquisition in March 2025, following the purchase of PriceBee on March 3, which integrated advanced material pricing, quoting, and
ordering capabilities into XBE’s platform.
“This acquisition aligns perfectly with our investment thesis for XBE,” said Matt McDonald of Banneker Partners. “By adding Gauge’s telematics capabilities to XBE’s comprehensive operations management platform, we’re creating a more robust solution for heavy construction, bulk logistics, and bulk materials companies looking to maximize equipment utilization and operational efficiency.”
XBE customers have invested significantly in large equipment fleets to support their operations. The acquisition enhances XBE’s ability to provide differentiated service around equipment availability and utilization, addressing a critical concern for its customers.
Mike Paredes, Founder and CEO of Gauge, who will continue with XBE for the long-term and report directly to Sean Devine, Founder and CEO of XBE, stated, “By combining forces with XBE, we can create more differentiated value for more customers than we could independently. XBE’s proven track record of product development and customer success will allow our joint team to move further and faster together.”
The acquisition provides immediate benefits to both XBE and Gauge customers:
For XBE Customers:
– Immediate access to purchase Gauge devices and services for telematics needs
– Equipment tracked with Gauge devices will be visible in XBE
– Future innovations in equipment telematics, maintenance, and analytics to maximize asset availability and utilization
For Gauge Customers:
– Continued long-term support for the existing Gauge platform
– Option to access XBE’s fully integrated operations management platform with built-in Gauge telematics
In the immediate future, Gauge will continue to operate under Mike Paredes’ leadership, with plans for full integration into XBE in the medium term. The Gauge brand will be maintained, particularly for devices, and positioned within the overall context of XBE.
About Banneker Partners
Banneker Partners is a private equity firm specializing in investing in and growing enterprise software businesses. They focus on sustainable value through best practices, growth initiatives, and strategic acquisitions—supporting founders and management teams in enhancing customer
value. For more information, visit bannekerpartners.com.
About XBE
XBE’s mission is to integrate the physical and financial operations of heavy construction, bulk logistics, and bulk materials. With XBE, customers maximize profitability, reinvest in growth, and scale with confidence. XBE provides a comprehensive operations management platform that
includes scheduling and resource planning, financial management, dispatch and logistics optimization, rate agreements, materials and inventory management, reporting and analytics, compliance monitoring, and collaboration tools. For more information, visit x-b-e.com.
About Gauge
Founded in 2009, Gauge provides an integrated hardware and software solution designed to maximize equipment asset utilization through tracking, maintenance, and analytics. Gauge’s Smart Hub offers various hardware solutions suited to different equipment and environments and integrates with various OEM and third-party telematics hardware. For more information, visit gaugecorp.com.