Following its purchase by the private equity firm Bru Venture Capital in May, the fleet management systems provider Cadec Global reports that it is on track for record revenues this year and will move to expanded offices in Manchester, NH. And it will end the year, it says, with a major new product launch.
Tracing its history in the trucking industry back 30 years, Cadec develops onboard hardware and software for improving fleet productivity.
In addition to the new ownership, the company saw a new management team put in place in May with Michael Baney taking over as CEO and Melanie Cary as chairwoman. Combined with its accelerated product development, the new ownership and management give Cadec “tremendous momentum for the second half of 2007,” said Baney.