SUN PRAIRIE,
WI - March 17, 2014 – ITS Compliance Inc., an outsourced provider of
compliance, safety, and asset management services for truck fleets, today
announced it received an aggregate investment of $5.75 million from Argentum
and First Analysis, leading private equity growth investors. 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.
ITS’s
technology-enabled solutions, including fuel tax reporting, safety services,
and asset management, help private fleets, for-hire carriers, and third-party
logistics 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.
“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.”
Blogger's Note: Glad to have this growing company located in Downtown Sun Prairie!
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