Thoma Bravo Announces Sale of Portfolio Co. Roadnet
THOMA BRAVO ANNOUNCES SALE OF ROADNET TO OMNITRACS
San Francisco – Nov. 25, 2013 – Thoma Bravo, LLC, a leading private equity investment firm, announced today the sale of portfolio company Roadnet Technologies Inc., a leading provider of fleet management software solutions for private fleets, to Omnitracs, LLC. Financial terms were not disclosed.
“Thoma Bravo worked in strong partnership with the Roadnet management team to facilitate the carveout from UPS, add key resources to the management team, provide insight and drive growth,” said Thoma Bravo managing partner Holden Spaht. “We are proud of the goals achieved by everyone during our time with Roadnet and wish the company the very best during its next stage of growth with Omnitracs.”
“It has been a pleasure working with Thoma Bravo over the last several years to grow our company into an industry leader,” said Roadnet CEO Len Kennedy. “Thoma Bravo gave us the tools to succeed as a standalone company and profitably grow through a deep operational focus, which opened up this opportunity for our next phase with Omnitracs.”
Roadnet, formerly UPS Logistics Technologies was acquired by Thoma Bravo in December of 2010 from UPS. The sale is expected to close in December 2013.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm applies its own industry consolidation investment strategy and process, which seeks to create value by partnering with a company’s management to improve business operations and make strategic acquisitions that will accelerate growth. Thoma Bravo invests across multiple industries, with a particular focus on application and infrastructure software and financial and business services. The firm currently manages a series of private equity funds representing more than $4 billion of equity commitments. For more information, visit www.thomabravo.com.
About Roadnet Technologies
Roadnet Technologies, Inc. is a leading provider of fleet management and logistics software applications that provide strategic territory and street-level route plans, multi-stop vehicle routing and scheduling, wireless dispatch, fuel management, and real-time vehicle GPS tracking. With over 3,400 customer installations worldwide, Roadnet solutions are successful in managing more than 250,000 vehicles each day. For over 30 years, the company has helped its customers reduce fuel spending, unnecessary miles, and carbon emissions, while increasing productivity and improving service to their customers. For more information, visit www.Roadnet.com