Categories : fleet repair

New trucks make launching with Lenawee County Roadway Commission

The road commission is likewise preparing to purchase two tandem-axle trucks this year as part of a plan to obtain the fleet back on a replacement rotation, stated …
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Lytx Truck Video Telematics Business Obtained by Chicago Firm

Lytx Inc., a San Diego-based worldwide leader in video telematics, has signed an agreement to be gotten by Chicago-based private equity firm GTCR. The deal, anticipated to close in the first quarter, is an all-cash deal of more than $500 million that will assist power the next chapter in Lytx’s development as the innovator and leader of video telematics and safety services for industrial trucks and public sector transport. Lytx produced the category in 1998, and has considering that developed a market-leading range of subscription-based services that assist improve the safe fleet driving habits for more than 1,400 customers worldwide. Its flagship service offering– the DriveCam program– integrates the smart video capture of driving events, precise and tailored data-backed coaching insights, fleet tracking, fuel management and more to help enhance motorist habits, protect and save lives, and lower operational expenditures. “With an unequaled set of solutions, services and blue chip customers, Lytx is already driving its strong vision of expanding the video telematics category and its clear market management is evidence that the team can continue to tape-record excellent results,” stated GTCR Managing Director Phil Canfield. In 2015, Lytx drove nearly 80 percent year-over-year development in the number of subscriptions sold, completing more than 300,000 memberships. In a January 2016 credit report, industry research study firm Frost & Sullivan reported Lytx market share at 66 percent, more than four times the share of its closest rival. “Over this past year, video telematics pivoted from being a nice-to-have to an essential amongst industrial and public sector fleets,” stated Lytx Chairman and CEO Brandon Nixon. “This brand-new chapter will permit us to substantially expand the portfolio of services provided to our growing set up base, and offer us the space to deliver a wider variety of actionable data to help our clients fix tough business issues.” “Brandon and the Lytx group h.
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