HKW Announces Sale of Telematics Solutions Provider Certified Tracking Solutions

The four-year hold period resulted in key milestone achievements.

INDIANAPOLIS--(BUSINESS WIRE)--HKW, a middle-market private equity firm focused on growth-oriented companies, has sold Certified Tracking Solutions to GPS Insight, an Accel-KKR portfolio company. Certified Tracking Solutions, headquartered in Edmonton, Alberta, Canada, provides cloud-based software to support GPS tracking solutions, fleet tracking and management, and workflow optimization. Earlier this year, Certified Tracking Solutions became the first company to obtain Canadian Electronic Logging Device (ELD) certification by the acclaimed CSA Group, representing several industry breakthroughs.

"HKW was the right partner at the right time, being instrumental as a resource for building our structure for the next growth phase. They were also tacticians in providing the perfect balance of oversight and guidance as we scaled the team," said Ben Jensen, Chief Executive Officer and co-founder of Certified Tracking Solutions. "HKW has exemplified what a true partner is at every stage of our journey, always going above and beyond."

HKW partnered with Certified Tracking Solutions in April of 2018, attracted to CEO Ben Jensen's passion for the business, scalable, recurring revenue model, and diverse customer base. Certified Tracking Solutions completed one add-on acquisition, CAMS, a specialized municipal vehicle tracking software, during the investment period. Certified Tracking Solutions also opened a US-based office in Scottsdale, AZ.

"HKW is thankful for the opportunity to partner with the Certified Tracking Solutions team. Ben Jensen has been a great leader in a business that competes in an extremely challenging industry. Despite intense competition from fast-scaling competitors, Ben found ways to leverage the HKW relationship effectively to add talent to the executive team, build geographic scale, and transition Certified Tracking Solutions to a true SaaS-based metric-driven company. We wish the team all the best for their next level of growth," said Kent Robinson, former Chairman of the Board of Certified Tracking Solutions and Partner at HKW.

DC Advisory served as the financial advisor. Taft Stettinius & Hollister LLP ("Taft") served as legal counsel to HKW.

About HKW

HKW is a middle-market private equity firm investing in companies with talented management teams in the US and Canada. HKW targets companies in the technology, health & wellness, and business services sectors. Since 1982, HKW has sponsored 67 platform transactions of lower middle-market companies throughout North America and 73 add-on acquisitions. For more information on HKW, please visit hkwinc.com.