Budgeting, Planning & Forecasting

Budgeting, Planning & Forecasting

May 02, 2011

OnAsset Intelligence Finds Investors to Accelerate its Growth

OnAsset Intelligence, Inc., a leading provider of wireless devices and software solutions, announced that it has secured funding from Main Street Capital Corporation, a principal investment firm controlled by Roy W.Haley, in order to accelerate its growth and expand its sales, marketing and manufacturing capabilities. OnAsset also announced that Curtis L. Hartman, Managing Director of Main Street, Haley, and Chuck Robison, CPA and principal of Robison & Company are joining OnAsset's Board of Directors.

OnAsset Intelligence is a leading service provider of remote monitoring and freight intelligence solutions.  With a rich history in design and engineering services, OnAsset has created a service portfolio with rapid customization features for unique applications that enable freight protection, chain of custody, and security. It specializes in covert, highly intelligent applications for air freight, trucking and transportation, and intermodal and ocean freight. 

Adam Crossno, President and CEO of OnAsset commented, “We are particularly pleased to have Roy joining our board. He possesses exceptional experience in building public companies through a combination of innovative growth programs and acquisitions.”

Roy W. Haley is a private investor from Orlando, FL. His retirement from a long tenured role as Chairman of WESCO International, Inc. will be effective in May of this year. He continues to serve as a member of the Board of Directors of United Stationers Corporation, and as a Board of Trustees member for Carnegie Mellon University. In addition, he recently completed multiple terms of service as a Director of the Federal Reserve Bank of Cleveland. Haley said, “This is an exciting time to be involved with advanced, global supply chain solutions and new technologies that help safeguard critical or high value shipments.”

OnAsset’s award-winning SENTRY family of wireless telemetry devices tracks and monitors transported assets on the ground, in the air, or across oceans. OnAsset’s patented FlightSafe technology is the first and only M2M tracking device certified for use by commercial airfreight providers. As a result, OnAsset is working with many of the world’s largest airlines, shipping and transportation companies to provide M2M-based monitoring technology that secures the delivery of consumer electronics, medical and pharmaceutical products, food, equipment, jewelry, and other high-valued items that are transported on a daily basis.

Main Street’s Hartman, who has worked for several Main Street investment entities, PriceWaterhouseCoopers, and Deloitte (News - Alert) & Touche, now brings his considerable consulting and institutional financing experience to OnAsset’s Board of Directors. Main Street Capital Corporation is an investment firm that partners with management teams to provide comprehensive long-term debt and equity capital solutions to growth companies.

Neelam Malkani is a TMCnet contributor. To read more of her articles, please visit her columnist page.

Edited by Rich Steeves

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