Investment firm BlackBern Partners, located in New York City, announced it has acquired Cadec Global, a provider of advanced fleet management solutions based in NH. A privately-held company, Cadec was formerly owned by Br Venture Capital. The transaction was completed on August 11.
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 products to new and existing customers in the growing transportation management sector.
Cadec products help 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.
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.
Effective immediately, Bernstein has joined Cadec as CEO and Chairman. Cadec's current management team will remain with the company, with active support from new board members.
NY Firm Acquires Manchester's Cadec
Published Friday Aug 26, 2011
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