Reynolds & Reynolds Company
08/07/2024 | Press release | Distributed by Public on 08/07/2024 03:10
Reynolds Acquires TSD Mobility Solutions to Enhance Fleet Management
Reynolds Acquires TSD Mobility Solutions to Enhance Fleet Management
Reynolds continues to expand its footprint in the retail automotive sector while leveraging its technology and expertise to benefit TSD clients
DAYTON, Ohio
August 7, 2024
The Reynolds and Reynolds Company announced today the acquisition of TSD Mobility Solutions, the leader in fleet management software and services. TSD designs and develops fleet mobility solutions for dealerships, manufacturers, public automotive groups, and rental car companies worldwide. Operating in 92 countries and six continents, the company helps over 16,000 dealerships and 3,000 car rental companies improve their operations daily.
Built to handle multi-use scenarios, TSD provides fleet management options for loaner or rental cars, shuttles, subscriptions, test drives, and pickup and delivery services.
"We're thrilled to bring TSD under the Reynolds umbrella," said Kasi Edwards, senior vice president of Strategy and Corporate Development at Reynolds. "The company's values align with ours, their approach to creating high-quality software synergizes with ours, and our shared focus on customer service makes this a perfect fit."
Based in Boston, TSD will operate independently, continuing to set the standard for fleet management software. Shawn Concannon has been president of TSD since January 2022 and will remain in that role as the company joins Reynolds.
"I couldn't be more excited for our employees and our customers. This is an amazing time to be partnered with TSD," said Concannon. "Joining Reynolds opens so many possibilities to streamline workflows across the industries we serve, further increasing efficiencies and reducing risk for our customers."
"As convenience and customer experience remain a key focus for dealers and OEMs, the importance of fleet management is continuing to grow," concluded Edwards. "TSD is the leader in this space and the rental car space, and we couldn't be more excited about the future of TSD with Reynolds."
TD Cowen served as the exclusive financial advisor and Cadwalader, Wickersham & Taft LLP served as legal counsel to TSD.
About Reynolds
Reynolds and Reynolds is a leading provider of automobile dealership software, services, and forms to help dealerships deliver better business results and transform the customer experience. The company is headquartered in Dayton, Ohio, with major U.S. operations in Houston and College Station, Texas, Tampa, Florida, and Celina, Ohio, as well as operations in Canada, the U.K., and Europe. (www.reyrey.com)
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