• DC Advisory (DC) advised rfXcel Corporation (rfXcel) – a leading provider of SaaS-based track and trace software solutions, on its sale to Antares Vision Group (Antares) – a global provider of intelligent track & trace, inspection and smart data management solutions
  • Backed by Kayne Anderson Capital Advisors, rfXcel provides supply chain digitalization and transparency through a comprehensive, data-driven solution suite that includes traceability, serialization, compliance and integrated supply chain monitoring
  • rfXcel has a presence in over 40 countries with a diversified customer base of 190+ clients and boasts a 1,000+ partner network, allowing for seamless connectivity, data exchange and system interoperability between customers and partners


  • DC was selected because of its long-standing supply chain and logistics tech expertise, deep sector knowledge and relationships with the most relevant buyers
  • DC was engaged to manage and evaluate significant unsolicited inbound interest received from both financial sponsors and strategic buyers
  • DC provided full M&A support, managing the buyer due diligence process and assisting with the negotiation of definitive documentation with Antares and its advisors


  • Antares Vision Group acquired rfXcel in March 2021
  • The combined organization will provide a completely integrated, end-to-end hardware and software solution for track and trace globally
  • rfXcel will continue to be run by its management team and is well positioned to capitalize on the acceleration in demand for end-to-end supply chain digitalization solutions


The DC Advisory team, led by Dave Dolan, Michael Kremen and Haider Arshad, have been excellent partners throughout this process. They provided comprehensive guidance to help navigate the various options before us, supported us through the due diligence process and executed flawlessly to transaction close. We are grateful for their expertise and professionalism throughout.

Glenn Abood, Co-Founder & CEO, rfXcel

This is our second transaction with the supply chain technology team at DC Advisory. The DC team demonstrated deep industry expertise and experience, resulting in an excellent outcome for all shareholders. We are thankful for their efforts and look forward to continuing the relationship.

Leon Chen, Managing Partner, Kayne Anderson Capital Advisors

It has been a pleasure working with Glenn and the rfXcel team. They have built a leading track and trace software business and we are excited to see it continue to excel under Antares’ ownership. We are delighted to complete another transaction that further enhances our supply chain technology franchise.

David Dolan, Managing Director, DC Advisory