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FOR IMMEDIATE RELEASE
January 6, 2015
Allied Business Group is pleased to announce the sale of FoxTrax Vehicle Tracking, Inc. to Marathon Data Systems. FoxTrax, which is located in St. Louis, Mo., offers web-based software and integrated GPS tracking devices used for managing commercial vehicle fleets. Allied advised FoxTrax in the transaction.
Marathon, which is located in New Jersey, offers a variety of turnkey software solutions tailored primarily to field services companies, such as pest control, landscaping, HVAC, plumbing, and cleaning service providers. The company's suite of integrated cloud-based and mobile software solutions helps field services companies improve operational efficiency in areas such as estimating, billing, scheduling and routing, and marketing.
FoxTrax's vehicle tracking solutions enable businesses to overcome challenges associated with managing fleets of commercial vehicles. The company's software, which integrates with dedicated GPS devices, provides management with actionable business intelligence from vehicle and driver behavioral data. This data provides insight into vehicle location, fuel usage, and mileage, which can help management implement cost-cutting strategies and increase revenue.
Marathon is a majority-owned company of Chicago Growth Partners ("CGP"), a private equity firm with approximately $1.2 billion of capital invested in nearly two dozen companies across the tech-enabled services, education, healthcare, and industrial technology industries. In 2012, Marathon acquired Viamente SRL, which is a SaaS provider of route optimization solutions based in Italy. Marathon subsequently established European headquarters in Milan to help support its operations abroad and establish an international presence.
The acquisition will allow Marathon to integrate FoxTrax's software with its existing vehicle tracking technology, resulting in cost savings and enhanced fleet management solutions. Marathon's management team, along with CGP's experienced managing partners, will help FoxTrax build its technological capabilities and provide sales, marketing, and financial support and expertise.