Inverness Graham Acquires GPSTrackIt

Philadelphia, PA, June 7, 2017 – Inverness Graham, a private investment firm based in suburban Philadelphia, is pleased to announce the acquisition of GPSTrackIt (or the “Company”). Based in Temecula, CA, GPSTrackIt is a leading provider of SaaS based asset‐tracking and fleet management solutions across North America. GPSTrackIt’s solutions deliver cost reductions, increased fleet efficiency, and equipment & asset protection. Inverness Graham teamed up with telematics and telecom market industry veteran, Keith Schneider, who joins as the company President and CEO. Founding owner, John Stull, retained a significant ownership position in the business and will remain on the Board of Directors.

“GPSTrackIt is a proprietary opportunity that was sourced through our proactive search efforts in the Internet of Things market and is our 5th platform investment in the IoT & Mobile tech areas,” stated Michael Morrissey, Managing Principal of Inverness Graham. “The Company’s web‐based software solutions deliver an exceptional ROI through its custom reports and alerts for vehicle activity, driver safety monitoring, including seat‐belt usage, speeding, rapid acceleration, hard braking as well as an ELD offering. We are excited to partner with the team at GPSTrackIt and support the Company in both organic initiatives and strategic acquisitions.” Morrissey added.

Keith Schneider stated, “GPSTrackIt is well positioned with a rich innovative history, serving thousands of customers with tens of thousands of fleet vehicles and assets. I am excited to join this dynamic company and look forward to continuing to build an enduring market leader in partnership with the team and Inverness Graham.”

Drinker Biddle & Reath LLP advised Inverness Graham. Terms of the transaction were not disclosed.

About Inverness Graham Investments

Headquartered in Newtown Square, PA, Inverness Graham is an operationally focused private investment firm with over $500 million of assets under management. Inverness Graham acquires high growth, innovative manufacturing and services companies. Our approach is as unique as our heritage. Founded by senior executives of the Graham Group, a family owned multi‐national industrial concern, we bring unparalleled resources developed over a 50‐year operating history to support our portfolio companies. Inverness Graham partners with businesses to provide the financial and operational support necessary to accelerate growth while enabling owners to achieve their key liquidity objectives.