PHILADELPHIA, PA (September 9, 2026) – Edgewater Strategy Group (“Edgewater”), a boutique advisory firm specializing in M&A, capital raises and Office of the CFO services, today announced that it supported Acadia Investment Partners (“Acadia”), the New York-based investor in technology businesses that serve the traditional economy, on its growth investment in Asset Recharge Center by ChargeItSpot (“ARC”).
Headquartered in Philadelphia, ARC helps large employers manage the handheld devices their frontline staff use every day, pairing self-service smart storage with cloud-based software that tracks, secures and accounts for each device. The business traces its roots to ChargeItSpot, which launched in 2011 with phone-charging kiosks for retail shoppers before shifting its focus during the COVID-19 pandemic to the devices used by store and warehouse teams. Today ARC works with major retailers and distribution operators across North America.
ARC announced a $60 million growth investment from Acadia, which it plans to use to speed up product development, add operating resources and bring its platform to more frontline-intensive industries. As part of the transaction, Acadia Founder and Managing Partner Harsh Agarwal and Acadia Operating Advisor Peter Schmitt will join ARC’s Board of Directors. ARC is led by its founder and Chief Executive Officer, Douglas Baldasare.
Edgewater worked as an extension of Acadia’s investment team through diligence and the investment committee process. The team provided buy-side financial due diligence, working through the data room and management discussions, built the transaction financial model, and prepared materials to support Acadia’s investment committee review.
“The best frontline technology quietly becomes part of how every shift runs, and ARC has earned that place inside some of North America’s largest retailers and distribution centers. Working alongside Harsh and the Acadia team, we pressure-tested both sides of the thesis: how deeply the platform is woven into its customers’ daily operations, and how far it can travel into new sectors. Douglas and his team have built something rare, and Acadia is the right partner to take it further.”
Hawken LordManaging Partner, Edgewater Strategy Group
Additional terms of the transaction were not disclosed.
ARC’s full announcement is available here.
About Acadia Investment Partners
Acadia Investment Partners is a New York-based investment firm that backs leading technology companies serving the traditional economy, with a focus on themes including frontline worker productivity, re-industrialization and infrastructure digitization, product engineering and design, and vertical systems of record. Acadia partners with founders and management teams over the long term to build category leaders. For more information, visit acadiaip.com.
About ARC
Asset Recharge Center (ARC) by ChargeItSpot is a Philadelphia-based enterprise device management platform for organizations that rely on handheld technology across their frontline workforce. Its combination of smart device storage and cloud-based software helps customers in retail, grocery, logistics, warehousing, airlines and other frontline-heavy sectors keep track of, secure and get more use from their device fleets. For more information, visit experiencearc.com.
About Edgewater Strategy Group
Edgewater Strategy Group is a boutique advisory firm specializing in Mergers and Acquisitions, Capital Raises, and Office of the CFO services. Edgewater works as an extension of its clients’ deal and finance teams, from sourcing and diligence through close and post-close integration. For more information, visit edgewaterstrategygroup.com.
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