Sector:

Software

Investment year:

2013

Year of sale:

N/A

With Horizon's support we are able to continue investing in our innovative software products to ensure we remain ahead of our global competitors

Jim SumnerExecutive Chairman, Connexas Group

Business

Connexas Group provides technology enabled fleet management and telematics solutions to customers for operators of large fleets of heavy goods vehicles (HGVs) and light commercial vehicles (LCVs) in the UK, EU, Australia, and North America. Their brands include Isotrak, Verilocation and Alcolock.

This family of solutions span journey and delivery management, integrated, high-definition and realtime camera systems and breathalyser immobilisation together with an array of mobile applications that help businesses to meet regulations, reduce costs, improve operational efficiency, lessen their environmental impact and improve customer service.

Market

The UK vehicle tracking and fleet management software market is one of the most advanced in the world.

Its leading products are increasingly in demand overseas, particularly in North America, Australia and continental Europe, where routes are longer, sites are more disparate and the growth of the home delivery market is creating a greater need for fleet monitoring and compliance.

Strategy

Horizon is working with Connexas’s experienced management team to deliver a growth strategy that includes:

  • Targeting growth in its existing market segments, with vertical focuses into retail, passenger, construction, food & pharmaceuticals, logistics & parcel
  • Developing the company’s product suite to maintain its global competitiveness
  • Targeting opportunities in the North American complex fleet management segment

Developments

Acquisitions bringing functionality that can be integrated into the existing product family.

With our support, Connexas has:

  • Completed the transformational acquisition of VeriLocation and Alcolock which brings the best of each business to help drive their customers’ success
  • Become the clear market leader and is the technical authority in 80% of its customers’ most valued functionality
  • EBITDA margins above 30%, 70% recurring revenues in 2018
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