NEW YORK, NY – Monday, March 17, 2014 — Argentum Capital Partners III, L.P., a recently formed private growth equity fund (“ACP III”), has led a $5.75 million investment in ITS Compliance, Inc. (“ITS”). First Analysis, Argentum’s long-time partner, participated in the investment. The investment will support ITS’s continued growth by enabling the company to broaden its services offerings, enhance its software platform, and expand its infrastructure. In connection with the transaction, Daniel Raynor, a Managing Partner of Argentum, will join ITS’s Board of Directors.
ITS is an outsourced provider of compliance, safety and asset management services for truck fleets. The company’s technology-enabled solutions help private fleets, for-hire carriers, and 3PL companies comply with regulations, improve productivity, reduce costs, and mitigate risks. ITS is based in Sun Prairie, Wisconsin.
“ITS has an excellent track-record of helping fleet owners and operators navigate and comply with the increasingly complex rules and regulations governing the trucking industry,” said Daniel Raynor. “We look forward to working closely with the ITS team to continue the company’s growth and success.”
“We are very pleased to partner with Argentum and First Analysis and welcome their involvement with ITS, given their expertise, contacts, and investing experience in the logistics and transportation services space and with technology-enabled service companies,” said Jim Matras, ITS’s founder and CEO. “This transaction will enable us to strengthen our capabilities and invest in infrastructure, which will allow us to better serve our existing customers and pursue exciting new growth opportunities.”
Dixie Burbank, ITS’s Chief Operating Officer, added, “This capital will enable us to deliver new features and modules to our clients and enable us to continue to increase the ROI our clients realize from using our services.”
Argentum is a New York-based private equity firm that provides growth capital to rapidly growing service companies at the smaller end of the middle market. Argentum pursues buy-and-build strategies for businesses that can be scaled into much larger enterprises through a combination of organic growth and targeted acquisition efforts. Argentum has a successful track record of building industry-leading companies in business, technology-enabled, healthcare, and industrial / environmental services. Since 1990, Argentum has invested in over 70 companies and supported over 150 acquisitions made by its portfolio companies. For more information, please visit www.argentumgroup.com
About ITS Compliance
ITS Compliance, Inc. provides outsourced compliance services to owners and operators of truck fleets. The company’s technology-enabled solutions, including fuel tax reporting, safety services, and asset management, are designed to help private fleets, for-hire carriers, and 3PL companies comply with federal, state, and local regulations, reduce costs, and mitigate risks. Since 1983, ITS has delivered compliance services to hundreds of fleets across numerous industries. ITS is headquartered in Sun Prairie, Wisconsin. For more information, please visit www.itscompliance.com
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