Northampton fleet management firm sold in private equity-backed deal

Northampton fleet management technology business VeriLocation has been bought by private equity-backed Milton Keynes telematics and fleet management firm Isotrak.

The deal will create a business serving over 500 customers globally across the fleet and telematics industries.

Lyceum Capital’s Dan Adler, a non-executive director for Isotrak, said: “We acquired Isotrak in 2013 with a vision to build the vehicle tracking and fleet management software group of choice for transport operators, providing business-critical information and service. The add-on acquisition of VeriLocation allows both companies to expand the functionality of their offerings, bringing the best of each business to help drive customers’ success. Combined with the investment in its own product and operations in recent years, the enlarged Isotrak group is set to lead innovation, functionality and customer focus in the dynamic telematics space.”

“VeriLocation has delivered tremendous growth and value to its customers thanks to its technical excellence and emphasis on market-leading customer service,” commented Jim Sumner, Chairman of Isotrak. “The businesses are a perfect fit for each other and will give our combined customers the best available technologies on a single platform.”

“We were impressed by the Isotrak leadership team,” said Andrew Overton, chief executive of VeriLocation. “We share a common set of values, particularly our belief that superb customer focus and a highly ethical approach to business are key to success. We look forward to combining forces with Isotrak.”

VeriLocation’s latest company accounts says it employs 26 people.

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