Routeique has all the ingredients for success - a bright and nimble team, direct proximity to customer challenges with their distributor relationships, and validation of major producers.
CALGARY, Canada (PRWEB) August 02, 2018
Routeique Inc. is pleased to announce the closing of bridge funding from Lancaster Investments, in the form of a convertible debenture.
The proceeds will be used to fund the strategic acquisition of a company focusing on large retailers, complimenting Routeique's current focus on major manufacturers. Official news of the acquisition is expected to be announced on August 7, 2018.
Jon Lancaster of Lancaster Investments commented, "I was in the auto industry for over 40 years and know there is and will continue to be huge opportunities in the logistics of transport. Routeique has all the ingredients for success - a bright and nimble team, direct proximity to customer challenges with their distributor relationships, and the validation of major producers."
Given Routeique's traction with international manufacturers, distribution firms and the retailers they supply, this acquisition will bolster the company's ability to service supply chain customers from end-to-end.
Mike Allan, President of Routeique said, "When the opportunity arose to complete a strategic acquisition, we knew immediately we wanted to work with Lancaster Investments on the funding. Lancaster has been following our progress almost since our inception and it's clear they really understand the logistics and supply chain space, as well as our vision for the future."
This financing and subsequent acquisition will ensure the continued growth and development of Routeique on the international stage, while allowing the company to stay at the cutting-edge of logistics technology.
Joy Hannemann of Lancaster said, "This acquisition was a very unique opportunity and we have huge confidence in the founders’ buy-versus-build strategy. The transition should be very seamless because the companies are very familiar with each other and they were each focused on different segments of a total supply chain solution."
Routeique offers a complete logistics platform for supply chains, including end-to-end order management, inventory and warehouse management, mobile invoicing and settlement, route optimization and planning, signature capture and proof of delivery. The company works across all areas of the supply chain space from manufacturers to distributors to retailers.
ABOUT LANCASTER INVESTMENTS
Lancaster Investments is a family office with a diverse portfolio of real estate and startup holdings. With deep roots in the automotive industry, many of the firm’s early-stage holdings support transportation innovations. Lancaster Investments is based in Madison, Wisconsin (USA).