TMW Systems acquires Maddocks Systems
Sep 7, 2006 2:40 PM
TMW Systems Inc, Beachwood OH, has acquired Maddocks Systems Inc, a Canadian trucking software provider. TMW said both companies have experienced double-digit growth in revenues and earnings since 2002.
“This is our first acquisition since TMW was purchased by Wachovia Capital Partners and Peppertree Capital Management in 2005, and fits very well with our global strategy of expanding our business through continued organic growth as well as investing in superior businesses with complementary technology and robust business solutions," said David W Wangler, TMW president and chief executive officer. "Maddocks is a well respected brand and will bring many additional products and services to our already well-rounded portfolio of offerings. Both company’s customers will benefit from this acquisition through expanded products and services, broader geographic reach, and greater scale.”
With the Maddocks acquisition, TMW Systems will now employ more than 250 professionals in offices throughout North America.
TMW Systems will continue to develop, evolve and support both companies’ product offerings, including TMWSuite Windows-based solution, TL2000 for the IBM iSeries and Maddocks TruckMateTM for Windows.
TMW has also formalized its Lifetime Support Policy and extended it to include the Maddocks TruckMateTM for Windows product.
Randall Burrell, Maddocks Systems chief operating officer, has been appointed as general manager TMW Canada, and Bob Maddocks, president and chief executive officer of Maddocks Systems is taking on a strategic role for TMW Systems as SVP of business development, identifying new business opportunities and partnerships.
All Maddocks Systems management and staff have become employees of TMW Systems.
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