AIM-listed manufacturer expands Coleshill HQ
Telematics firm Trakm8 will double the size of its Coleshill headquarters after agreeing a deal to take over a neighbouring building.
It will relocate its manufacturing operations into the 16,000 sq ft site, with its administrative functions expanding in its current building.
The AIM-listed business has the ambition of having 1m connected devices by the end of 2020.
Trakm8 works with a host of household names including the AA, Saint Gobain, Shell, Direct Line Group and Euro Car Parts. It collects data on 3bn miles every year, while its telematics products also include dashboard cameras.
It has agreed a 10-year lease for the building at Roman Park.
Trakm8 is also investing £1.5m in automated assembly and test equipment this year to increase manufacturing efficiency and enhance quality performance.
John Watkins, executive chairman of Trakm8, said: “Demand in the second half of the current financial year is expected to be strong as new contracts in the insurance and fleet sectors deploy and the growth in the automotive propositions scale out.
“We are confident that this investment will be sufficient for the next few years and look forward to making the most of the improved office space and expanded manufacturing facilities.”
