Transactions

Lyceum Capital has acquired the business from Saints Chamonix Private Equity to accelerate Isotrak’s UK and North American expansion strategies, and increase investment in the development of its cloud-based product suite.

Investing alongside the existing management team Lyceum Capital has taken a majority share in the business, which recently won contracts with a number of leading retailers in North America to add to its blue chip UK customer base.

Established in 1999, Isotrak provides vehicle tracking and fleet management software to enable businesses that operate large fleets of heavy goods vehicles (HGVs) and light commercial vehicles (LCVs) to reduce costs, improve operational efficiency, lessen their environmental impact and improve customer service.

Liberty Corporate Finance advised the management team on the transaction and provided support to Lyceum in executing the deal.

The company employs over 120 people across its UK office in Milton Keynes and a base in San Diego. The business is forecast to reach sales of approximately £30m for its financial year ending December 2013, which would represent a three-year compound annual growth rate (CAGR) of 30 per cent.

Gavin Whichello commented:

“The Liberty team provided high quality advice throughout the transaction which was always commercial and to the point.  It is absolutely right to say that the deal would not have happened without them.”

Michael McDonagh, Director at Liberty commented:

“Isotrak is in a really exciting growth phase as a business and it was great to work with Gavin, Greville and their team in helping to shape a deal aligned to delivering the next phase of its international growth strategy.  We look forward to seeing them deliver this growth with the help and support of Lyceum.”