Advised Masternaut, Europe’s largest provider of telematics solutions to commercial fleets, on its sale to Summit Partners and FleetCor Technologies
Jun 2014
acquired by
  • Sector: Industrial Tech
  • Deal Type: Strategic Deals; Private Equity Deals
  • Engagement type: Sellside
  • Size: $200-500m

Arma Partners is pleased to announce that it has acted as exclusive financial adviser to Francisco Partners, a technology-focused private equity firm, on the sale of Masternaut Group Holdings (“Masternaut”) to a newly formed joint venture between Summit Partners (“Summit”) and FleetCor Technologies (“FleetCor”) (NYSE:FLT).

Masternaut is Europe’s largest provider of telematics solutions to commercial fleets. Founded in 1996 and with headquarters in the UK, Masternaut provides a SaaS-based Mobile Resource Management (MRM) application suite which improves its customers’ operational efficiencies. The company employs over 600 telematics specialists and has over 10,000 customers with over 300,000 assets, vehicles and people connected to Masternaut’s SaaS solutions.

FleetCor, a leading global provider of fuel cards and workforce payment products to businesses, and Summit, a growth equity firm, are partnering with Masternaut’s current management team and will capitalise on cross-marketing opportunities and accelerate the growth of the company.

This transaction, our ninth so far this calendar year, illustrates Arma Partners’ strength in Europe-to-US Technology M&A and its stellar track record in the Software sector in particular.