Command Alkon to Acquire Trimble's Construction Logistics Business
On October 5, 2020, Trimble (NASDAQ: TRMB) announced a definitive agreement for Command Alkon, a Thoma Bravo portfolio company, to acquire its construction logistics business. The transaction, anticipated to close in Q4 2020, combines Trimble's telematics solutions with Command Alkon's fleet and workforce management capabilities. This move aligns with Trimble's strategy to refocus on core construction competencies. Although the sale may enhance Command Alkon's service offerings, Trimble noted that it will not significantly impact its overall financial results.
- The acquisition aligns with Trimble's strategy to refocus on core construction capabilities.
- Combining Telemetry solutions of Trimble with Command Alkon enhances service offerings.
- Financial terms of the transaction were not disclosed, raising concerns about potential valuation.
SUNNYVALE, Calif. and BIRMINGHAM, Ala., Oct. 5, 2020 /PRNewswire/ -- Trimble (NASDAQ: TRMB) and Command Alkon announced today that Command Alkon, a Thoma Bravo portfolio company and leading provider of a supplier collaboration platform for construction's heavy work, has entered into a definitive agreement to acquire Trimble's construction logistics business. The transaction is expected to close in the fourth quarter of 2020. Financial terms were not disclosed.
The acquisition will combine the best of Trimble construction logistics telematics solutions with Command Alkon's leading fleet and workforce management offerings for the heavy work community.
Trimble's construction logistics solutions provide ready-mix and aggregates delivery managers with tools to track, schedule, route and communicate across the fleet for efficient delivery of products. Fleets benefit from automated real-time vehicle location and status, turn-by-turn navigation, monitoring and diagnostics as well as business analytics and reporting.
Command Alkon leads the industry with its technology solutions for heavy material suppliers, haulers, and contractors in the heavy civil construction space. The company has developed a robust suite of solutions that span the industry's value chain, and provide mission-critical technology for its customers.
"As we work on the execution of Trimble's Connect and Scale 2025 strategy, we are continually evaluating our portfolio of businesses," said Rob Painter, president and CEO of Trimble. "As we refocus our efforts on the company's core construction capabilities, Command Alkon is an ideal fit for this opportunity with ready mix and aggregates business being key focus areas for their portfolio of offerings."
"Command Alkon is committed to delivering solutions that digitize and innovate the heavy work industry, and this transaction delivers on that promise," said Phil Ramsey, CEO at Command Alkon. "Consistent with our strategy, this acquisition will allow for more robust, lasting solutions and deliver valuable insights that drive increased efficiencies and improved decision-making across our customers' fleets."
Trimble's construction logistics business has been reported as part of the Building and Infrastructure Segment. The sale will not have a material impact on Trimble's segment or overall financial results.
About Command Alkon
As the provider of a leading Supplier Collaboration Platform for Heavy Work, Command Alkon solutions deliver supply chain digital collaboration across the heavy construction community. CONNEX, a technology platform built for the industry, enables business partners to automate and integrate business processes, capture real-time visibility into heavy material orders and deliveries, and share knowledge to promote certainty of outcomes. Command Alkon is headquartered in Birmingham, Alabama and has offices in locations around the globe. For more information, visit: commandalkon.com.
About Trimble
Trimble is transforming the way the world works by delivering products and services that connect the physical and digital worlds. Core technologies in positioning, modeling, connectivity and data analytics enable customers to improve productivity, quality, safety and sustainability. From purpose built products to enterprise lifecycle solutions, Trimble software, hardware and services are transforming industries such as agriculture, construction, geospatial and transportation. For more information about Trimble (NASDAQ: TRMB), visit: www.trimble.com.
This press release contains forward-looking statements regarding the business operations and prospects of Trimble, including the impact of the construction logistics business divestiture. These forward-looking statements are subject to change, and actual results may materially differ due to certain risks and uncertainties. Factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to timely satisfaction of various conditions to closing the divestiture, and whether the divestiture is completed on the intended timeline, or at all. More information about potential factors which could affect Trimble's business and financial results is set forth in reports filed with the SEC, including Trimble's quarterly reports on Form 10-Q and its annual report on Form 10-K. All forward looking statements are based on information available to Trimble as of the date hereof, and Trimble assumes no obligation to update such statements.
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SOURCE Trimble
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