Teletrac Navman, a connected mobility platform for industries that manage vehicle and equipment assets, announced the completion of its acquisition by Respida Capital.

As previously announced, Vontier Corporation, Teletrac Navman’s former parent company, retains a minority equity stake in the business. Teletrac Navman provides real-time data for fleet operators across the globe to manage operations, safety, and sustainability using operational data. It currently supports organizations across the transport, logistics, and construction industries, as well as the public sector through its TN360 fleet management solution.

“This new partnership with Respida will mark the next phase of growth for Teletrac Navman,” said Chief Executive Officer Alain Samaha at Teletrac Navman. “Respida’s technology expertise and investment approach will allow us to continue developing our products and expand into additional industries and geographic markets, while maintaining the service our customers expect from us.”

“Fleet management continues to evolve, with operators seeking new ways to stay productive and profitable amid rising cost and regulatory pressures,” said James Zubok, founder and managing member of Respida Capital. “Teletrac Navman offers technology intended to help operators address these challenges. We are pleased to partner with Teletrac Navman and support its ongoing growth during this period."