Fritz & Company Serves as Exclusive Financial Advisor to Spartan Radar in the Carve-out of its Enhanced Resolution and Perception Software Assets to a Leading Fortune 100 Industrials Acquiror

CHICAGO, March 28, 2025 /PRNewswire/ -- Fritz & Company I, LLC ("Fritz & Company"), a premier technology investment banking advisory firm, is pleased to announce its role as Exclusive Financial Advisor to Spartan Radar, Inc. ("Spartan Radar") in the carve-out of its enhanced resolution and perception software assets to a leading Fortune 100 Industrials acquiror.

Spartan Radar, a leader in radar software and hardware, was founded in 2020 by Nathan Mintz, Tyler Rather, Dr. Theagenis Abotzoglou, and Blake Gasca, combining extensive experience in radar / RF systems, telematics, and ADAS. Spartan is currently led by Gasca (CEO) and Morgan Brewster (COO).  Spartan's investors span some of the leading venture firms and strategics in transportation, logistics, and deep tech, such as 8VC, Prime Movers Lab, MaC Venture Capital, Wipro Ventures, and Microsoft.

This deal represents yet another example of several prevalent trends in the market. Technology themes continue to converge as the proliferation of distributed connected devices enlarges the digital surface area in which software can optimize and automate business processes. Further, industrial companies continue to move "up-stack" with the addition of software, differentiating on their ability to provide value through analytics, safety, automation, etc. – increasing up-sell potential for hardware and services pull-through.

The deal serves as a testament to Fritz & Company's leadership in deep-tech and navigating idiosyncratic complexities amid today's ever-changing market environment.

About Spartan Radar

Spartan Radar is a technology company delivering disruptive full-stack and software solutions to the highly strategic, fast-growing, multi-billion-dollar automated vehicle market. Spartan's proprietary software algorithms leverage machine learning and edge-processing to provide high-resolution sensing that mimics the human ability of instantly shifting focus to safely respond to obstacles. Spartan works with existing ADAS sensors to increase resolution, response time, and range. The software increases sensing performance at an affordable cost with low computational overhead.

About Fritz & Company

A premier technology investment banking and special situations / restructuring advisory firm, specializing in deep tech, industrial transformation, aerospace & defense, sustainability tech and intelligent & sustainable mobility / supply chain.

For more information, please contact Erich Fritz ([email protected]) or Tim Hughes ([email protected]).

SOURCE Fritz & Company