Great Elm Group Profile
Great Elm Group, Inc. engages in the durable medical equipment and investment management businesses.
Segments
The company operates through two segments, Durable Medical Equipment and Investment Management.
Durable Medical Equipment Business
The company launched its Durable Medical Equipment segment in September 2018 by acquiring two durable medical equipment businesses that specialize in the distribution of respiratory care equipment, including positive air pressure (PAP) equipment and supplies, ventilators and oxygen equipment, and provide sleep study services. Since then, the company has grown the business organically through investments in scalability, as well as inorganically through tuck-in acquisitions.
Investment Management Business
The company decided to invest in the asset management business because of its assessment of its ability to generate recurring free cash flows. Great Elm Capital Management, Inc. (GECM), the company’s wholly-owned registered investment adviser subsidiary, is an investment adviser providing investment management services to Great Elm Capital Corp. (GECC) and Monomoy Properties REIT, LLC (Monomoy REIT), its largest investment vehicles, as well as private funds, including the Great Elm SPAC Opportunity Fund, LLC (GESOF), and separate accounts for an institutional investor.
The company owns approximately 35.4% of GECC’s shares that it may hold to generate dividends or sell to redeploy its capital in higher yielding opportunities.
Monomoy REIT was formed in 2014 with the purpose of building an industry leading single-tenant industrial portfolio specializing in net leased assets, specifically Class B & C warehouse, distribution and light manufacturing assets. The company acquired the investment management agreement of Monomoy REIT in May 2022. The company and its subsidiaries collectively own approximately 10.5% of Monomoy Properties UpREIT, LLC, the operating partnership of Monomoy REIT (Monomoy UpREIT).
Discontinued Operations
In June 2021, the company sold the real estate business.
History
The company was founded in 1994 as a Delaware corporation. It was incorporated in 1994. The company was formerly known as Openwave Systems, Inc. and changed its name to Unwired Planet, Inc. in 2001. Further, the company changed its name to Great Elm Capital Group, Inc. in 2016 and to Great Elm Group, Inc. in 2020.
