LOS ANGELES--(BUSINESS WIRE)--Intelligent Imaging Systems (IIS) and its sister company, Drivewyze, announced today that Kayne Partners has invested in the company to support the growth of its mobile-based weigh station bypass business for the trucking industry. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P., an approximately $29 billion alternative investment firm.
Headquartered in Edmonton, Alberta, with offices in Burlingame, California, Drivewyze helps commercial trucking companies save time and money by allowing their trucks to bypass weigh stations based on the strength of their safety records. Founded in 2003 by transportation technology experts Brian Heath (Chief Executive Officer) and Fred Ko (VP of Operations), IIS is a privately held company that develops solutions to improve transportation safety and efficiency for governments, businesses and consumers.
Drivewyze offers advanced cloud-based software to the commercial trucking industry, including bypass services and a nation-wide fleet analytics service. Leveraging cellular networks, the internet and GPS, Drivewyze is able to provide weigh station bypass services at 411 sites in 30 states (and growing), via smartphones, tablets and specialized in-cab fleet telematics devices.
“We are pleased to have the support of Kayne Partners as we continue with our rapid pace of service expansion and record business growth,” said Brian Heath, president and CEO of IIS and Drivewyze. “In the last 18 months, Drivewyze has grown to become the nation’s largest weigh station bypass service provider, with the number of locations in the Drivewyze network having grown over 80 percent. Our Commercial Mobile Radio Service (CMRS) transponder technology is changing how trucking companies and state commercial vehicle inspectors view weigh station bypass. With our partners at PeopleNet, Rand McNally and Zonar offering Drivewyze on their in-cab devices, fleets are finding that Drivewyze can save them thousands of hours of lost driver productivity and significantly reduce their fuel costs.”
“Kayne Partners targets industries which are typically underserved from a technological perspective, and the commercial vehicle and trucking industries currently rely on outdated tracking and monitoring methods,” said Doyl Burkett, Partner, Kayne Partners. “The IIS and Drivewyze business segments utilize existing third-party platforms to increase operating inefficiencies in the trucking and fleet management markets. This closely aligns with Kayne Partners’ mandate to find companies using innovative processes in large, established industries.”
“Kayne Partners has a strong track record of identifying companies in high growth industries and backed by competent and strategic management teams, and we are excited about our partnership with the IIS and Drivewyze management team,” said Nishita Pawar, Managing Director, Kayne Partners.
About Drivewyze, Inc.
Drivewyze is the smart mobility services company for the transportation industry. Drivewyze and its sister company, Intelligent Imaging Systems Inc., are on a mission to revolutionize the delivery of highway safety and transportation management through world-class products, systems and services. Drivewyze serves commercial drivers and fleets with innovative trucking apps such as Drivewyze PreClear Bypass service.
About Intelligent Imaging Systems, Inc.
Intelligent Imaging Systems Inc. improves transportation safety and efficiency for governments, businesses and consumers. IIS’ roadside and back office integration solutions provide seamless automated electronic screening programs to law enforcement agencies that improve the effectiveness of Commercial Vehicle Enforcement operations.
About Kayne Partners
Kayne Partners is a leading provider of capital and connections to rapidly growing companies in North America. Since its inception more than a decade ago, it has invested over $600 million in platform investments and add-on acquisitions. Kayne Partners seeks to partner with driven entrepreneurs as a non-control minority investor and provide transformative capital to these high growth companies. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P.
About Kayne Anderson Capital Advisors, L.P.
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, growth private equity and distressed municipal opportunities. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above-average, risk-adjusted investment returns. Kayne manages approximately $29 billion in assets for institutional investors, family offices, high net worth and retail clients and employs over 250 professionals in eight offices across the United States.