Self-service payment tech company acquired by global operator
Global technology organisation Modaxo Inc has confirmed its acquisition of CAMMAX, a Castleford-based provider of self-service ticket vending machines (TVMs), parking payment machines and associated services.
The West Yorkshire business has expertise in delivering payment systems for public transportation and car parks.
Its portfolio includes a wide range of TVMs for rail, tram, and bus journeys, as well as off-street parking payment systems for pay on exit, pay on entry, and hybrid car parks.
Laurent Eskenazi, head of EMEA, UK, and Asia at Modaxo, said: “We are happy to welcome CAMMAX and its employees and customers to the Modaxo family.
“CAMMAX’s impressive track record in simplifying travel and parking payments aligns with our vision of creating seamless mobility experiences for all.”
The acquired firm’s products are used by transportation and parking operators across the UK. Some of its customers include West Midlands Combined Authority, Nottingham Trams Limited, Bristol City Council, East Midlands Rail, and Parking Eye.
Julian Rooney, managing director at CAMMAX, said: “Joining the Modaxo family is an exciting milestone for us. We share a common vision of transforming the transportation and parking experience through technology.
“Now with Modaxo we feel we can deliver even more value to our customers and drive the industry forward.”
The deal sees CAMMAX maintain its brand identity and autonomy, while benefiting from investment, support, coaching, best practices, and peer learning offered by Modaxo.
Rooney continues to lead the business along with the management team.
Dow Schofield Watts advised Cammax and its shareholders on the cross-border deal, with Gordons LLP providing legal advice, led by partner James Fawcett.
Roger Esler, corporate finance partner at DSW, said: “We have worked with CAMMAX over several years and witnessed its evolution as a fantastic, Yorkshire-based, technology-led business.
“This strategic sale to a global technology group will form a fantastic platform for further growth and development.”
