Reynolds Acquires TSD Mobility Solutions
Company says the buy is intended to enhance fleet management.
Reynolds President Chris Walsh
Reynolds and Reynolds
The Reynolds and Reynolds Co. acquired TSD Mobility Solutions, a provider of fleet-management software and services. TSD designs and develops fleet mobility solutions for dealerships, manufacturers, public automotive groups and rental car companies. Operating in 92 countries and on six continents, the company helps over 16,000 dealerships and 3,000 car rental companies improve operations.
Built to handle multiuse 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.”
Boston-based TSD will operate independently. Shawn Concannon, its president since January 2022, 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,” Concannon said. “Joining Reynolds opens so many possibilities to streamline workflows across the industries we serve, further increasing efficiencies and reducing risk for our customers.”
Edwards added, “As convenience and customer experience remain a key focus for dealers and OEMs, the importance of fleet management is continuing to grow. 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 exclusive financial adviser, and Cadwalader, Wickersham & Taft LLP served as legal counsel to TSD.
Originally posted on Auto Dealer Today
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