Telular to acquire Reltima and GPS North America
June 30, 2015
Telular is to acquire Reltima and GPS North America, two commercial telematics companies in the local fleet management market. Chicago-based Telular is a provider of wireless networks for remote monitoring and tracking and a portfolio company of Avista Capital Partners.
Reltima, headquartered in Massachusetts, provides products for GPS fleet tracking and fleet performance optimisation aimed at light duty vehicle fleets. GPS North America, located in Pennsylvania, is Reltima's largest distribution partner. Upon closing, both companies will become part of Telular's SkyBitz division.
"By bringing Reltima and GPS North America together under our SkyBitz business, we will be able to rapidly expand our footprint in the growing commercial telematics market," said Doug Milner, CEO of Telular. "The acquisition of these two successful organisations is a natural extension of the overall Telular mission to deliver innovative telematics that enable our customers to dramatically lower their cost of operations and improve productivity."
Brendan Scollans, partner at Avista Capital Partners, added: "We are excited about building on SkyBitz's strong existing momentum by broadening our telematics product set. Telular has a strong position in three rapidly growing machine-to-machine markets and a compelling recurring revenue business model. Avista looks forward to continuing to support Telular by driving both organic growth and additional acquisitions."
Reltima offers a wide variety of GPS fleet management tools for sale through its master dealer network located throughout North America. Its flagship smart antenna product is an in-cab GPS fleet tracking device. When paired with Reltima's Perigee customer portal, the smart antenna provides location based services, driver and vehicle performance data, route management, and cargo status tracking to allow fleet managers to optimise their fleet performance and reduce fleet operating costs.
"The combination of Reltima and our largest distribution partner, GPS North America, with SkyBitz represents an excellent strategic fit, bringing together the complementary strengths of our rich portfolios and robust go-to-market channels," said Andrew Petrov, CEO of Reltima. "This new relationship will give our dealers the power to leverage the strong and well-respected SkyBitz brand name against the larger competitors we face in the market today."
GPS North America offers fleet management services including asset tracking, hours-of-service compliance, vehicle and driver dispatch, and fleet reporting, all under the SignalTrack brand.
"We are excited to join the SkyBitz family, a company that shares our dedication to making sure our valued customers always have access to the best technology for tracking and monitoring their fleets," said Todd Lewis, president of GPS North America. "Becoming a part of SkyBitz will enable us to take our services to the next level, while maintaining the personal touch our customers have come to expect."
Subject to the completion of customary conditions, the acquisition is expected to close on or around July 8, 2015. Reltima and GPS North America were advised by Media Venture Partners, an investment banking firm serving companies in the communications, technology and media sectors. Avista Capital Partners and Telular were advised by Kirkland & Ellis.