Investment Marks Second Acquisition for PINC in Less Than 30 Days of Complementary Supply Chain Management Software Capabilities
Union City, CA – October 8, 2020 – PINC®, the leader in digital yard™ solutions, today announced that it has acquired RailcarRx®, a provider of a comprehensive suite of rail industry software solutions and services. RailcarRx software provides maintenance, repair, fleet and asset management insights that help railroads, railcar owners, repair shops and shippers operate more efficiently, monitor equipment health and improve safety. RailcarRx will continue to operate and support its customers with the existing staff and supplier relationships, so that customers will receive the same high level of service and support they have come to expect from RailcarRx.
This transaction marks the second add-on acquisition for PINC in less than thirty days – PINC acquired a transportation management software (TMS) carveout from Wabtec Corporation on September 15, 2020. Known by its trade names, ShipperConnect and ShipXpress, the Shipper TMS software provides cloud-based shipment management applications to industrial shippers that move goods over multi-modal transportation, including rail. RailcarRx is a natural extension of these capabilities that will enable shippers to monitor rail fleet health, track fleet in various repair and maintenance stages and significantly improve rail logistics operations.
Multi-modal TMS and analytics solutions such as those offered by RailcarRx and Shipper TMS is part of a broader growth strategy for PINC, a Gartner “Best of Breed” digital yard management software solution leader. Accel-KKR completed a significant growth equity investment in PINC in June 2020. These add-on acquisitions support PINC’s goal of expanding its digital yard and transportation management solutions to help clients further optimize their complex supply chains.
A true end-to-end supply chain execution (SCE) platform will play a vital role in reducing the number of point solutions and manual, non-value added processes for supply chain leaders facing ever-growing transportation complexities and cost pressures. PINC’S expanding capabilities serve as a foundation for an SCE platform focused on comprehensive transportation management software solutions for shippers. The platform will prioritize offerings that serve the origin and termination points in the supply chain with a specific focus on rail, truck, and terminal yard management. Combining powerful execution functionalities such as electronic documentation, analytics, billing, rating and carrier management with real-time visibility, the platform is well-positioned to solve multiple transportation challenges in the supply chain industry. Customers will be able to turn to PINC to see, automate, and execute more components of their supply chain.
RailcarRx provides software solutions, IT project support and expert consulting resources to clients ranging from freight and passenger railroads, to maintenance shops, railroad equipment finance organizations and railcar owners. For more details, visit railcarrx.com.
PINC provides scalable software, hardware, and services that enable companies to identify, locate, and orchestrate inventory throughout the supply chain predictably and cost-effectively. The company’s cloud-based real-time tracking platform, powered by an Internet of Things (IoT) sensor network that includes passive RFID, GPS, computer vision, cellular, and other sensors, provides actionable insights and connected expert guidance that allow organizations to optimize their supply chain execution. To learn more, visit PINC at www.pinc.com.