NEW YORK– Aug. 25, 2011 – Investment firm BlackBern Partners announced
today that it has acquired Cadec Global, a provider of advanced fleet
management solutions. A privately held company, Cadec was formerly owned by
Brú Venture Capital. The transaction was completed on Aug. 11.
Cadec, based in Manchester, N.H., is known for helping customers improve
fleet efficiency and safety by automatically monitoring driver behavior and
vehicle information and providing actionable information to fleet managers.
Cadec also helps customers extend their supply chain into truck cabs by
providing mobile solutions that enable drivers to collect and track delivery
details in real time.
BlackBern Partners was founded in 2010 to invest in operating companies with
proven business models and differentiated products. Firm principals Ian Black
and Jon Bernstein have extensive experience in private and concentrated public
market investing as well as operating experience. The two are hands-on
investors who will lead delivery of Cadec solutions to new and existing
customers in the growing transportation management sector.
“Cadec has built a strong reputation for innovation since its founding in
1976,” said Bernstein. “The company has all the right ingredients for success:
a superior product; a large, loyal customer base; talented employees with
extensive industry expertise; and a growing market. We’re investing in growing
the business, and excited about moving it forward and delivering on the
commitments Cadec has made to its customers.”