The 4th of July is over and it's time to get back to work. (Don't blame the messenger.)

What's happened during your time off? We've got you covered with some news you may have missed.

Teletrac Navman sold

This well-known telematics company is now owned by a private equity firm called Respida Capital. Teletrac Navman's former parent, Vontier Group, retains a minority equity stake.

Teletrac Navman now has more money for more growth. Respida is a software-focused private equity firm.

“This new partnership with Respida will enable an exciting next phase
of growth for Teletrac Navman,” said Alain Samaha, the CEO of Teletrac Navman. “Respida’s deep technology expertise and long-term investment approach will allow us to accelerate our momentum across multiple strategic pillars, including meaningful product innovation, and vertical and geography expansion, while maintaining the high quality of service our customers expect from us.”

Ballweber to exit Bobcat

Long-time industry leader Mike Ballweber, president of Doosan Bobcat North America, will retire at the end of the month, following a career spanning nearly 30 years with the company. 

With Ballweber’s retirement, Scott Park, CEO and vice chair of Doosan Bobcat Inc., will serve as interim president of the North America region, working closely with the regional leadership team to maintain continuity until a successor is named. 

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In this capacity, Park will help ensure continued execution of Bobcat’s strategic priorities and long-range growth plans, while maintaining continuity for employees, dealers, and customers.

Ballweber joined Bobcat in 1998 and was appointed president in 2019. During his tenure, he helped strengthen Bobcat’s dealer network, expand the company’s product portfolio, and advance manufacturing and innovation initiatives.

Hyundai taps Ross as prez

The impressively monikered HD Construction Equipment Hyundai North America has named Mike Ross its president. 

Ross succeeds Stan Park, who recently retired after serving as president since November 2021. In his new role, Ross will lead the company's business strategy, dealer network development, customer support operations and continued growth across the United States and Canada.

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Ross joined Hyundai in 2020 as VP of sales before being promoted to COO. He now has 30 years of experience in the construction equipment industry, advancing from territory sales manager to director of product and operations leadership at leading equipment manufacturers.

Prior to entering the construction equipment industry, Ross served six years in the U.S. Army after graduating from the U.S. Military Academy at West Point with a degree in economics.

Caterpillar workforce investment

Caterpillar has been busy in Texas and is backing its action up with an initial $5 million pledged to build the state's manufacturing workforce.

The investment is part of Cat's five-year, $100 million Building the Future Workforce Initiative. The initial funding aims to prepare current and future workers across Texas for advanced manufacturing and industry technician jobs of tomorrow.

“Caterpillar believes building a strong workforce starts with investing in people and helping them develop the skills needed to be successful,” said Christy Pambianchi, Caterpillar’s chief human resources officer. “Texas is a manufacturing powerhouse and a vital hub for innovation. Through this pledge, we’re capitalizing on those strengths and preparing Texans for the jobs of today and the advanced technology and manufacturing careers of tomorrow.”

Cat's Texas presence

Texas was selected for the workforce commitment because of Caterpillar's deep roots in the state. Texas is home to 6,630 Caterpillar employees spanning from the company's Irving headquarters to 17 facilities across the state, including the 1.7-million-square-foot, high-tech engine facility in Seguin.

Caterpillar’s initial investment will explore reducing financial barriers to training, developing a future-ready skills framework and strengthening pathways that connect students to careers in advanced manufacturing and industrial skills. To advance these efforts across the state, Caterpillar is collaborating with leading organizations, including Texas State Technical College, the Manufacturing Institute, and local stakeholders such as the Seguin Economic Development Corporation.