April 13, 2023 | | Industry News
Today, Fexa expands its capabilities to address mounting regulatory and compliance risks with the acquisition of Trakref, a leading refrigerant tracking and management software provider.
The future of retail and facilities management is facing unprecedented uncertainty. With looming regulation from the EPA and the 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. 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,” said Chris Jernigan (CJ), executive managing director of Cushman & Wakefield Facilities Solutions. “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, healthcare, financial services, data center, real estate, and food services industries as they rapidly innovate to deliver new, integrated capabilities. 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.
“We are ecstatic to join forces with Fexa, who believes in our mission of slowing climate change through better refrigerant tracking and management and helping clients gain control over their HVAC/R activity,” said Ted Atwood, founder of Trakref and now chief compliance and sustainability officer of Fexa. ”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.”
Last year Fexa announced it had raised $40 million to support the acceleration of product development and enhance customer support. Since then the team has roughly doubled in size, so it is prepared to accelerate the roadmap, integrate acquisitions, and invest in a next generation, integrated solution. Fexa now serves more than 1.8 million facility locations across the U.S. and Canada, having grown more than 90% over the past year.
For more information on Fexa's plans to solve the increasingly complex cost and compliance challenges that facility operators and service providers face with the unique capabilities of Trakref, visit https://fexa.io/fexa-ceo-announces-trakref-acquisition
Fexa is a facilities management enterprise SaaS solution dedicated to making it simpler for facilities and operations teams to achieve greater efficiency and ROI. The company's highly configurable platform utilizes a flexible workflow engine to serve customers in a wide range of markets, including retail, healthcare, automotive, quick serve restaurant, e-commerce logistics, convenience, and broker or self-performing service providers. From work order, location and asset management to complex project management, the Fexa platform enhances and automates business and operational priorities through purpose-built, highly flexible software, tools and support. Fexa is easy to use, flexible and wicked smart. For more information about Fexa, visit https://fexa.io/
Trakref is a leading provider of refrigerant tracking and management software that simplifies compliance and ESG reporting. The company's platform offers a comprehensive solution for managing refrigerants, reducing compliance risk, and achieving sustainability goals. Learn more about Trakref at https://trakref.com/
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