SAN DIEGO, July 17, 2017 (GLOBE NEWSWIRE) -- Paul Davey, an executive with more than 30 years of experience in engineering, design and management has been appointed as GM of the Neology Automated License Plate Reader (ALPR) and related technology business, and Managing Director of its UK operation. Mr. Davey is a senior management addition to enhance Neology's growth and presence in Europe as part of the completed acquisition of the 3M Tolling Business announced June 30th. Neology is a subsidiary of SMARTRAC, an investment managed by One Equity Partners (OEP), a middle-market private equity firm.
“Paul is a key addition to the team,” said Francisco Martinez De Velasco, CEO of Neology. “He brings a wealth of knowledge and experience leading engineering teams and growth-focused organizations. His past experience in ITS and PIPS technology will enable him to make an immediate positive impact.”
“I am excited to join Neology and lead this new region for the company,” said Davey. “I am particularly enthusiastic to work with many of the same staff I had known in my previous roles and I look forward to the new product introductions now possible with our combined organization,” concluded Davey.
Mr. Davey has past experience in the industry and served in various senior management roles with PIPS Technology Ltd both before and after the merger with 3M UK. He has worked as a consultant in the ITS space for a number of years and as an engineer in several technical roles. Davey holds an MBA from Kingston University Business School and a Physics degree from the Imperial College, London.
About Neology:
A fully-owned subsidiary of SMARTRAC N.V., Neology is a leading provider of integrated solutions for the tolling, electronic vehicle registration (EVR) and public safety markets. The company is a pioneer and leader in the development of passive RFID technology owning some of the earliest and most significant intellectual property (IP) in the industry. SMARTRAC is the leading developer, manufacturer and supplier of RFID products and services suitable for a large number of applications. For more information visit www.neology-rfid.com and www.smartrac-group.com.
About SMARTRAC:
SMARTRAC® is a leading developer, manufacturer, and supplier of RFID and NFC transponders and inlays and owns a vast RFID patent portfolio. The company produces both ready-made and customized transponders and inlays used in access control, animal identification, automated fare collection, border control, RFID-based car immobilizers, contactless payment cards, electronic product identification, industry, libraries and media management, laundry, logistics, mobile and smart media, public transport, retail, and many more.
SMARTRAC was founded in 2000, went public in July 2006, and trades as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs approximately 3,600 employees and maintains a global research and development, production, and sales network.
Forward-Looking Statements:
All forward-looking statements contained in this press release are based on assumptions, planning, and forecasts at the time of publication of this press release. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions, and other factors may cause the actual results to be materially different from the assumptions, planning, and forecasts at the time of publication of this press release. Therefore, SMARTRAC N.V. does not assume any responsibility relating to forward-looking statements contained in this press release. Furthermore, SMARTRAC N.V. does not assume any obligation to update the forward-looking statements contained in this press release.
About One Equity Partners:
OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an extensive track record generating long-term value for its partners. Since 2001, the firm has completed more than 140 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com.