MULLICA HILL, N.J. — Fexa, a facilities management enterprise SaaS solution company, acquired Trakref, a refrigerant tracking and management software provider.
With looming regulation from the U.S. Environmental Protection Agency (EPA) and the U.S. Securities and Exchange Commission’s (SEC’s) new carbon reporting requirements that are expected to be announced this year, companies must navigate once-in-a-lifetime cost and compliance pressures in the face of economic headwinds, increasing sustainability goals, and rapidly changing customer needs that are pushing facilities and assets to their limits.
“Fexa was founded on the principle that innovative technology can play an essential role in helping companies maximize the potential of their facilities,” said Kurt Smith, CEO of Fexa. “We felt uniquely positioned to help the industry solve the immediate challenge of tracking and managing refrigerants. We did an exhaustive search for the best solution to solve this problem, and it became clear that there is no equal to Trakref’s rules engine in terms of providing a fully compliant, audit-ready solution. Ensuring a seamless transition for all customers and partners is our top priority.”
Typically, cost management and compliance are addressed separately, but these growing challenges demand a holistic approach. With these added capabilities, Fexa will deliver a comprehensive solution that empowers facility owners, operators, and service providers to manage facilities efficiently, maximize the longevity and performance of assets, meet compliance regulations, and deliver against sustainability goals.
“We have seen how the Fexa CMMS platform has helped multi-site businesses manage their facilities more cost-effectively,” said Chris Jernigan, executive managing director, Cushman & Wakefield Facilities Solutions. “The Fexa platform is extremely efficient and created more than a 35% reduction in clicks to process a work order within my organization. The addition of Trakref is a natural evolution of their platform, as refrigerant compliance will require tight coordination between facilities managers, service providers, and HVAC/R assets. I have first-hand experience with both platforms, and the possibilities of this partnership are very exciting for our clients. It’s the true definition of synergy being created between two great solutions. Fexa should be commended for listening to the market in terms of the real needs of facility managers and taking action to bring this solution together all within one platform.
“The combined company will continue to make its unique products and services available independently to customers and partners across the retail, grocery, health care, financial services, data center, real estate, and food services industries as they rapidly innovate to deliver new, integrated capabilities,” continued Jernigan. “Fexa and Trakref will continue to value and pursue extensibility with other systems, platforms, and service providers so that customers have choice when it comes to finding the best solutions for their needs.”
Ted Atwood, founder of Trakref and newly appointed chief compliance and sustainability officer of Fexa, said his team is ecstatic to join forces with Fexa.
“Fexa believes in our mission of slowing climate change through better refrigerant tracking and management and helping clients gain control over their HVACR activity,” he said. “We remain committed to creating innovative solutions to stop costly refrigerant leaks for the planet's health and the safety of people everywhere. We will continue to work with a broad group of constituents, clients, and partners as we pursue this vision.”For more information, visit https://fexa.io/fexa-ceo-announces-trakref-acquisition.
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