Horizon-backed 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.
Jim Sumner, Executive Chairman of the Connexas Group said “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. 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.”