TMW Systems bought by Trimble for $335 million

SUNNYVALE, Calif. -- Trimble has entered into a definitive agreement to acquire privately-held TMW Systems for $335 million. TMW's enterprise software currently integrates with Trimble's T&L solutions on many fleets and when combined will jointly serve more than 3,000 fleets around the world, officials announced. TMW is based in Beachwood, Ohio and has 500 employees. The company will be reported within Trimble's Mobile Solutions segment.

"Trimble's global presence will provide a strong channel for extending TMW's reach and scope, beyond its leading position in North America," said David Wangler TMW's president and CEO. "Together, our complementary technologies can deliver exceptional return on information that improves our customers' operational efficiencies and allows them to deliver superior customer service. We look forward to becoming a part of Trimble and providing our customers a comprehensive and integrated end-to-end solution for transportation management."

"This highly synergistic combination provides the potential for creating uniquely innovative solutions for the customer. In addition to a shared market vision focused on customer value, TMW brings a history of robust double-digit growth, invention and strong financial performance," said Ron Konezny, general manager of Trimble's T&L division. "With more fleets deploying information-based solutions to improve business performance, the tight integration enabled by this transaction can offer a more comprehensive and seamless solution, enabling a continuous flow of information between customer, shipper, carrier and driver."

The all-cash purchase price of $335 million will be financed through Trimble's existing credit facility. The transaction is expected to close in the fourth quarter of this year, subject to customary closing conditions. TMW's reported trailing twelve-month revenue is approximately $96 million.

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Meritor, Takata Set Deal to Market Safety Systems

Meritor Wabco Vehicle Control Systems and Takata Corp.’s U.S. subsidiary, TK Holdings, have signed a letter of intent to market and distribute two of Takata’s products in North America.

Under the agreement, Meritor Wabco will market and distribute Takata’s SafeTrak lane-departure warning systems — Truck Interface Module and Fleet Management Portal.

“Takata’s products perfectly complement and enhance our current active safety systems such as OnGuard and SmartTrac,” Jon Morrison, president of Meritor Wabco, said in the statement.

Takata’s lane-departure warning system is designed to help a driver avoid swerving from a lane or the road by providing warnings to the driver when certain events occur, Morrison said in his statement.

“Distracted or sleepy drivers contribute heavily to this type of incident,” his statement added.

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Capital Partners acquires tarping systems manufacturer Roll-Rite

ALGER, Mich. -- Automated tarping systems manufacturer Roll-Rite has been acquired by Capital Partners, a private investment firm located in Greenwich, Conn., in conjunction with minority partners Argosy Capital and management.

Capital Partners purchased Roll-Rite from Copeley Capital out of Charlotte, NC. Cleary Gull acted as exclusive financial advisor to Roll-Rite in the transaction. Purchase price was not disclosed.

"This is the classic win-win scenario," said Brad Templeman, CEO of Roll-Rite. "Roll-Rite has enjoyed a very successful growth initiative, even in a lean economy, by developing innovative, market-driven products and through expansion into new domestic as well as international markets. Capital Partners brings to us a proven track record of providing a strong balance sheet to support growth, and assisting companies to get to the next level."

"The addition of Roll-Rite to our portfolio is a very exciting prospect," said Mark D. Allsteadt, managing director of Capital Partners. "We have a strong interest in the manufacturing sector, and look for small to mid-sized innovative companies with unique technologies - companies like Roll-Rite - that also share our key philosophies of lean enterprise and action-based planning disciplines. Capital Partners believes in being patient and disciplined investors who support exceptional management teams as they develop their business. We look forward to working with Roll-Rite as they expand into more new markets and reach out to new customers."

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