Connexas Group, a leading provider of technology-enabled, fleet management and mobile worker solutions, has announced the acquisition of Nottinghamshire-based Seven Telematics.
Building on its strong financial results, the deal will see Northampton-based Connexas Group annual revenues increase to over £20m, with the business servicing in excess of 700 customers and fulfilling well over 100,000 connections in the UK and overseas.
Seven Telematics’ innovative temperature data logger, 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, Chairman of Connexas Group, said: “Seven Telematics is the market leader in cold chain telematics achieving 20% CAGR in the past four years and has 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 and builds on our European footprint.”
Andrew Overton, CEO of Connexas Group, added: “This acquisition brings us a step nearer to creating a one-stop, market-leading technology platform, which is a clear differentiator for our business in a high-growth market. This progress is reflected in our year-on-year revenue growth rate, which is now running at 14% organically. This is also complemented by our sales pipeline which has more than doubled in the past 18 months.”
Ian McAllister, Commercial Director of Seven Telematics, who has joined Connexas Group as Interim COO, said: “I am very much looking forward to joining forces with Connexas Group and am 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 this organisation, and we are looking forward to working together to realise growth in the future.”