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Launched in 2024 by Marcus Padmo Jörgensen and Tommy Högström, Endurion Capital has successfully closed one of the largest deals in the SF landscape with the acquisition of Connected Dealer Services (CDS) in the US. Although the exact transaction value has not been disclosed, the company’s enterprise value is understood to be around $100M, potentially setting a new record in the SF industry as one of the largest acquisitions to date. Among the funds backing the transaction are Pacific Lake Partners, Ambit Partners, WSC & Company, Hadley Family Capital, Scipio, Moonbase Capital, Applied Equity Partners, and Banyan Software Capital, among others.
Founded in 2016 in California, CDS is a connected vehicle technology company providing hardware-enabled software solutions to automotive dealerships, independent dealers, Buy Here Pay Here (BHPH) operators, and automotive lenders. Its platform combines connected hardware, cloud-based software, and vehicle data to help customers manage inventory, protect vehicle assets, improve operational efficiency, strengthen customer relationships, and create additional revenue opportunities. Its solutions include GPS-based vehicle tracking and theft protection, lot and inventory management, vehicle health monitoring, and customer engagement tools, supporting the vehicle lifecycle from pre-sale through ownership. With more than 140 employees, the company generated approximately $80M in revenue in 2025, with EBITDA of more than $13M.
Given the size and complexity of the transaction, the searchers deserve significant credit for securing the support of the majority of their existing investors while also bringing in external capital to finance the acquisition.
