Generational Equity announced the sale of its client, Keytroller LLC, to I.D. Systems, Inc. The acquisition closed July 31, 2017.
Keytroller, based in Tampa, Florida, designs, manufactures and supplies a full line of electronic safety devices designed for forklifts, construction equipment, aerial lifts, personal carriers, boats and hazardous transport trucks. Founded in 1988, the company has relationships with more than 500 North American equipment dealers, original equipment vehicle manufacturers, and importers in England, Europe, Australia and Southeast Asia.
“Keytroller and I.D. Systems complement each other incredibly well,” said Keytroller president Terry Wickman, who will stay on as I.D. Systems Executive Vice President and run Keytroller as an independent division. “Joining together is a win-win for our companies, our partners, and our end users—all of us will benefit from a broader choice of solutions and a larger, more capable service and support organization.”
I.D. Systems is a leading global provider of wireless machine-to-machine (M2M) solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo. Founded in 1993 by two Stanford University engineers, I.D. Systems pioneered the use of wireless technology to track, control, and manage high-value mobile assets. The company is headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom.
“This acquisition will benefit both companies,” said Hunter. “There will be cross selling opportunities for both entities.”
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