Roadnet Technologies Reports on Six Months of Thoma Bravo Ownership
Now under new ownership by Thoma Bravo, LLC, Baltimore-based fleet management and route scheduling company achieves best two quarters of sales volume in 25-year history.
Baltimore, MD – Roadnet Technologies, the Baltimore-based fleet management and transportation logistics technology company, achieved the best two quarters in its 25-year history based on same-year sales volume, maintained a 97% customer retention rate and hired a number of new management-level executives including a Chief Financial Officer position. The transportation management organization was acquired by private equity firm Thoma Bravo, LLC in late 2010 from UPS (NYSE:UPS), and immediately renamed from UPS Logistics Technologies.
“We have reached or exceeded every sales goal and corporate objective that we set for our organization by mid-year, and have generated tremendous momentum to outpace our growth targets by year-end,” explained Len Kennedy, Chief Executive Officer of Roadnet Technologies. “Our company accomplished this success in conjunction with investing a significant amount of corporate time and resources during the initial part of the year to establish and introduce our new brand platform and corporate identity package,” he added.
Roadnet Technologies also unveiled its strategic corporate acquisition strategy with a defined objective of emerging as the “only fleet management platform in the world that encompasses route management, telematics and fleet maintenance.” This will be achieved, according to Kennedy, “through the development of new or enhancement of existing applications, in addition to the acquisition of complementary technology.”
“We will only consider companies that provide additional value to our customers and increase Roadnet Technologies’ long-term financial viability,” explainedKennedy, who added that the company is in its preliminary exploration phase.
Aggressive new product development and enhancement programs to Roadnet’s suite of vehicle routing and scheduling products were also integral components of corporate activities during the first half of 2011. Roadnet Technologies indicated that its MobileCast® product is now attainable for all customers, including those that are currently in mid-contract with competitive vehicle telematics providers. In addition, technology has been developed that consumes GPS data and leverages the power of both Roadnet® and MobileCast for enhanced vehicle fleet tracking.
The company also released GeotuningTM, a new GPS routing productivity-enhancing tool for commercial fleets that improves the accuracy of location information for transportation fleet owners. This process leads to improvements in operational efficiency, while also reducing fuel expenses and carbon emissions.
Founded in 1983, Roadnet Technologies was acquired by United Parcel Service in 1986 and was known as UPS Logistics Technologies for more than 25 years. Thoma Bravo, LLC, a $4 billion private equity firm headquartered in San Francisco, purchased the UPS division in late 2010 and re-established the corporate name.
Today, Roadnet Technologies provides worldwide fleet management software, tools and GPS tracking solutions for hundreds of thousands of vehicles in a broad range of industries such as foodservice, beverage, paper, waste management, textile and energy. Roadnet’s fleet management applications and logistics software provides strategic territory and street-level route plans, multi-stop vehicle routing and scheduling, wireless dispatch, vehicle telematics, fuel management, and real-time vehicle GPS tracking.