Connexas Group (formerly Isotrak group), a leading provider of technology-enabled, fleet management and related mobile worker solutions, is today announcing the acquisition of leading Cold chain technology business Seven Telematics.
Building on its strong financial results, the deal will see Group annual revenues increase to over £20m, with the business now servicing in excess of 700 customers and achieving a milestone of 100,000 billable connections in the UK and overseas.
Seven Telematics’ innovative temperature recorder, Transcan Advance, has established itself as a technology leader in the cold chain market and the business has a strong track record in both product innovation and customer service. The acquisition will enable customers from across the Connexas Group to benefit from new levels of product functionality and complementary service offerings.
“Seven Telematics is the market leader in cold chain technology with growth in its telematics enabled product achieving over 20% CAGR in the past four years and strong export sales at over 30% of total revenue.”
Jim Sumner, Connexas Group Chairman
“Our businesses are a perfect fit for each other, and more importantly, for our customers who are looking for the best of available technologies on a single platform. This move not only increases our technology and connection base, it also offers significant growth potential, builds on our European footprint and will, of course, add further to the financial strength and performance of the company.”
Andrew Overton, CEO of Connexas Group, added: “This acquisition furthers our ‘one-stop’ technology strategy, which is a clear differentiator for our business in a high-growth market. The Transcan Advance technology will become fully integrated into our platform, opening up this capability to our wider customer base.”
“Success of the ‘one-stop’ strategy is also reflected in our year-on-year revenue growth rate, which is now running at 14% organically and also supported by our sales pipeline which has more than doubled in the past 18 months.”
“I am very much looking forward to joining forces with Connexas Group and not only excited with, but am very impressed by, the technology platform and innovative range of products Connexas has developed. There is a real energy and purpose in the organisation, and we are looking forward to working together to realise further growth in the future.”
Ian McAllister, Seven Telematics Commercial Director
Connexas is a group of leading technology companies providing connected vehicle and mobile worker technology solutions to commercial vehicle fleets of any size in the UK, EU, Australia and North America. With our industry-leading technology solutions spanning full journey and delivery management, high definition camera systems and driving performance applications, we empower fleets to become smarter, safer and more efficient. To find out more, visit www.connexas.com
About Seven Telematics:
As well as manufacturing Transcan temperature data loggers, Seven Telematics provides professional vehicle tracking, temperature monitoring and driver performance data services to fleet managers in the UK and Europe, visit www.seventelematics.co.uk