TotalTrax acquires ShockWatch equipment monitoring division

TotalTrax is the new company formed from the merger of Rush Tracking Systems and Sky-Trax.
By Modern Materials Handling Staff
October 05, 2011 - MMH Editorial

TotalTrax today announced it has acquired the equipment monitoring product line of ShockWatch, a global leader in developing and manufacturing damage prevention products. ShockWatch is a wholly owned subsidiary of Media Recovery, Inc.  Terms of the acquisition were not disclosed.

TotalTrax is the new company formed via the merger of Rush Tracking Systems and Sky-Trax. The merger was completed in July 2011. TotalTrax is a portfolio company of Pharos Capital Group, a private equity firm with $600 million in capital under management. Pharos supported both the merger and this acquisition with an additional investment. Concurrent with the acquisition of the equipment monitoring product line, the Company announced its new name, TotalTrax, Inc.

The acquisition creates the leading provider of real time vehicle, driver and inventory tracking technologies for manufacturing and warehouse operations. As an integrated company, TotalTrax will continue to offer individual products as well as offer completely integrated solutions that include safety compliance, fleet management, asset tracking and reporting tools for a complete solution that delivers maximum benefit and visibility to operations. By automating the real-time tracking and management of vehicles and drivers, customers are able to reduce or eliminate the inaccuracies normally associated with operator input, create safer operating environments and benefit from documented productivity gains.

The acquisition of the Equipment Monitoring division includes products such as ShockWatch EquipManager, FleetControl Manager, ImpactManager, software and services, as well as the associated employees including the field sales and service organizations.  Almost 100,000 units have been installed on fork trucks through direct and OEM dealer channels in North America and Distributors in Australia, New Zealand, Europe, Asia, Latin and South America.  These channels combined with an existing global network of direct sales executives and Value Added Resellers will insure continued growth and customer support.

“This acquisition represents the next phase of our growth strategy,” said Mike Kinnard, CEO of TotalTrax. “The ShockWatch products and employees have tremendous reputations in the market place and we plan to strengthen both with additional investment. We are confident that the current ShockWatch customer base will be interested in the additional tracking, reporting and business intelligence tools we now offer, making this transaction a win for all our customers, partners and dealer networks,” Kinnard concluded.

“The addition of the ShockWatch Equipment Monitoring division will position us to be the leading supplier of fork truck-centric solutions,” stated Toby Rush, President of TotalTrax. “We now have a complete technology platform that will allow us to turn traditional material handling vehicles into smart trucks that automate data collection and reporting.”

Anna Kovalkova, Vice President of Pharos Capital Group added, “This acquisition represents the next synergistic investment to complement the merger of Rush Tracking Systems and Sky-Trax and transforms the Company into a leading vertically integrated provider of smart truck products with a global footprint.”

TotalTrax will be headquartered in New Castle, DE with regional locations in Kansas City, KS and Graham, TX.



Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

UPS today announced diluted earnings per share of $1.32 for the third quarter 2014, a 13.8% improvement over the prior year period. Operating profit increased 8.3%, resulting from balanced growth across all three segments.

The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that U.S. trade with its North America Free Trade Agreement (NAFTA) partners Canada and Mexico increased 4.4 percent from August 2013 to August 2014 at $100.6 billion.

As expected, global trade dipped from August to September but still saw annual gains, according to data issued this week by Panjiva, an online search engine with detailed information on global suppliers and manufacturers.

Transportation and logistics merger and acquisition (M&A) activity in the third quarter saw annual gains, which were driven by smaller deals in the trucking logistics, shipping, and passenger air sectors, according to data issued in the Intersections report by PwC this week.

With the holidays rapidly approaching, it appears retailers are not quite done getting inventory set up and on the shelves in time for what is expected to be a fairly active shopping season. That much was evident based on recent data for September volumes issued by the Port of Los Angeles (POLA) and the Port of Long Beach (POLB).

Comments

Post a comment
Commenting is not available in this channel entry.