BUSINESS WIRE
Inverness Graham-backed GPS Trackit Acquires Zonar, Enhances Capabilities in Fleet Health, Safety and Compliance
FOR FURTHER INFORMATION CONTACT:
Wilson Tong (wtong@invernessgraham.com)
Phone: 610-722-0300
Inverness Graham, a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry, announced today that its video and fleet telematics company, GPS Trackit, has acquired Zonar Systems, Inc. (“Zonar”). Zonar is a leading provider of smart fleet management solutions for commercial fleets, particularly in the government and education sectors. Zonar’s solutions deliver critical insights to enhance the safety, performance and success of its customers’ fleets. The combined platform will enable best-in-class telematics and cloud-based solutions serving fleets of all sizes across the commercial, field services and passenger industries.
“The acquisition of Zonar strengthens GPS Trackit’s position as an integrated, scale IoT platform for video and fleet management,” said Michael Morrissey, Managing Principal at Inverness Graham. “The addition of Zonar augments our value proposition in fleet health, safety and compliance, as well as deepens our presence in the government and education sectors. Leveraging GPS Trackit’s modern SaaS platform, rapid innovation cycles and exceptional customer service, the combined platform will be a leader in video telematics and fleet management for the Americas.”
“We are thrilled to welcome Zonar into the GPS Trackit family. This alignment represents a significant step forward in our shared mission to deliver innovative, customer-focused fleet management solutions. By combining our best-in-class video platform with Zonar’s advanced technologies and industry expertise, we are poised to create unparalleled value for our customers and further disrupt the market as the industry leader in overall customer satisfaction. We look forward to building on Zonar’s legacy of excellence while driving transformative growth together,” said Charles Kriete, CEO at GPS Trackit.
Terms of the transaction were not disclosed.
About Inverness Graham Investments
Inverness Graham is a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry. The firm’s Flagship strategy focuses on high-growth businesses leveraging technology in Healthcare, Software and Advanced Manufacturing. The firm’s Green Light strategy targets technology-enabled businesses where Environmental Sustainability is a key driver of accelerating growth. Inverness Graham executes a differentiated, repeatable model for value creation through its proprietary Strategic Platform Build approach. Founded by senior executives of the Graham Group, the firm builds upon a 60-year legacy of operational excellence, bringing substantial value creation resources and an innovative mindset to support its portfolio company partners.
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