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Builds upon Ingersoll Rand’s leadership in digital connectivity
offerings
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Provides fleet customers with new ways to leverage intelligent
mobile assets
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Accelerates ability to expand into additional vertical markets and
applications
SWORDS, Ireland--(BUSINESS WIRE)--
Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable,
sustainable and efficient environments, announced that it has entered
into an agreement to acquire GPSi Holdings, LLC from Falconhead Capital,
LLC. This acquisition strengthens Ingersoll Rand’s telematics portfolio,
an important component of its connected technologies strategy.
GPSi is a leading technology provider of cloud-based technology
solutions for fleet managers in various transportation markets including
education, golf and resorts. Its custom software solutions, combined
with a high level of customer support, address diverse needs and are
designed to increase productivity and maximize revenue opportunities for
fleet owners. It is headquartered in Sarasota, Fla. and has offices in
Austin, Texas and East Sussex, England.
“As a leader in telematics, we are pleased to deepen our capabilities in
delivering exceptional customer value and end user experience for
Ingersoll Rand customers,” said Dave Regnery, executive vice president
of Ingersoll Rand. “With GPSi, we are well positioned to help customers
maximize the value of their fleets, and to capitalize on the
multi-billion dollar market for intelligent mobile assets across
trucking, resort, golf, education, rental and other industries.”
“We are proud of the growth and development of GPSi under our
ownership,” said David S. Moross, chairman and chief executive officer
of Falconhead Capital. “We have executed on a wide range of initiatives
designed to make the company’s technology and service offerings
increasingly valuable to customers in a variety of end markets. In
particular, our long relationship with Ingersoll Rand is a clear
illustration of the value of GPSi and a critical element of our success.
Ingersoll Rand’s decision to now acquire GPSi is a strong endorsement of
what has been achieved and we are confident that GPSi will continue to
reach new heights as part of a leading global company.”
For nearly a decade, Ingersoll Rand has been successfully integrating
GPSi connectivity offerings with Club Car vehicles to offer a unique
golf experience and help owners manage their fleets of cars. Club Car
and GPSi have connected 70,000+ vehicles in 50 countries through the
Visage platform.
Visage provides fleet owners with real-time tracking, vehicle control
and diagnostics, and golfers with an enhanced experience that includes
in-vehicle display of course information, food and beverage service,
messages and alerts.
The GPSi transaction follows Ingersoll Rand’s 2015 acquisition of
Celtrak, the leading telematics provider for transport refrigeration,
and will build on a growing portfolio of connected assets.
Thermo King has connected more than 30,000 mobile assets, providing
insights on the performance and efficiency of transport refrigeration
systems. Drivers and fleet owners benefit from real-time data including
vehicle tracking and fuel efficiency. In addition, telematics
technologies measure critical performance characteristics such as
temperature and air quality that protect the value of transported food,
pharmaceuticals and other cargo.
The GPSi acquisition is consistent with Ingersoll Rand’s strategy to
help customers solve climate and industrial challenges including energy
and fuel efficiency, food waste and productivity. The value of this
acquisition was not disclosed or material.
About Ingersoll Rand
Ingersoll Rand (NYSE:IR) advances the quality of life by creating
comfortable, sustainable and efficient environments. Our people and our
family of brands—including Club
Car®, Ingersoll
Rand®, Thermo
King® and Trane®—work
together to enhance the quality and comfort of air in homes and
buildings; transport and protect food and perishables; and increase
industrial productivity and efficiency. We are a $13 billion global
business committed to a world of sustainable progress and enduring
results. For more information, visit www.ingersollrand.com.
About Falconhead Capital, LLC
Falconhead Capital, LLC is a private equity firm established in 1998 to
provide investors with significant long-term capital appreciation by
investing globally in the sports, media, consumer, lifestyle, and food
and beverage sectors. Falconhead’s portfolio has included ESPN Classic
Europe, Multi-Flow Industries, GPSi Holdings, Airhead Sports Group, Javo
Beverage Company, Not Your Daughter’s Jeans, Competitor Group, Escort
Holdings, National Powersport Auctions and Maritime Telecommunications
Network. For more information, visit www.falconheadcapital.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171031005345/en/
Source: Ingersoll-Rand plc