TrenStar Closes $34 Million in Funding to Expand Mobile Asset Management Solutions - The Carlyle Group Leads Round, Joined by Trencor and Strategic Investors

Denver, CO – TrenStar, Inc. raised $34 million in its first institutional round of financing, with more than half of the funding coming from Carlyle Venture Partners, the venture arm of The Carlyle Group, and the balance from Trencor Limited and other strategic investors.

TrenStar’s business model combines radio frequency identification (RFID) and container tracking technology with logistics services to provide better visibility and control of a company’s mobile assets as they carry goods and materials through the supply chain. TrenStar will devote portions of the funding to growth initiatives including further IT development and additional asset purchases from qualified companies seeking an outsourced solution for the management of their mobile assets.

Carlyle Principal Anand Gowda said, “TrenStar’s RFID and container management technology initially caught our attention, but we quickly realized the potential of the company’s business model. In our due diligence we found an experienced management team adeptly introducing a way for companies to gain efficiency through better management of their mobile assets. We expect the brewing, food and beverage, synthetic rubber, automotive and air cargo business segments, in which TrenStar has already established important positions, to continue to benefit from the company’s value proposition and outsourced container management services.”

“TrenStar’s solution for the automotive, brewing and food industries in particular is strengthened by the supply chain services heritage of the founding companies including Trencor. We can now more aggressively develop our solutions and services and expand into new markets,” said TrenStar President and CEO Greg Cronin. “Our new investors like the business model and recognize the talent we have on staff. We are in a position to take a very strong leadership role in the emerging mobile asset management industry.”

“TrenStar has established itself quickly in several industries,” said Trencor Managing Director Hennie Van Der Merwe. “Our recommitment is a testament to TrenStar’s vision of streamlining mobile asset management for one company and then eventually pooling common assets within an industry to achieve significant savings for all pool members. TrenStar’s execution of this business model has proven to be a very attractive proposition to many asset-intensive companies in a variety of industries.”

With this funding the largest shareholders of TrenStar are Trencor Limited, The Carlyle Group and the Leede Companies.

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