The Carlyle Group has sold its remaining 42.2% position in Transics, a European provider of on-board computers and fleet management solutions for the transport and logistics sector. Carlyle had acquired the company in May 2006, and floated it in Brussels last June. The final sale netted Carlyle approximately $90 million.
Global private equity firm The Carlyle Group today announces that it has successfully exited its investment in Transics, a leading European provider of on-board computers and fleet management solutions for the transport and logistics sector, through a combination of private placement and accelerated book-building (“ABB”). Having acquired Transics in May 2006, Carlyle floated Transics on Euronext in Brussels in June 2007, whilst retaining ca. 42.2% of the outstanding share capital. Carlyle has now sold the remainder of its shares in Transics.
The transaction consisted of a block trade with Parcom, a Netherlands-based investment fund that focuses on transformational growth companies, covering 16.5% of the outstanding share capital combined with the ABB covering the balance.
Transics was founded in May 1990 and pioneered the development of total fleet management solutions for the transport sector. Today, Transics solutions, based on the Quattro Plus on-board computer, a real-time GPRS communication and back-office software platform, are currently built into more than 50,000 trucks in over 800 transport companies. Transics is active in 23 European countries.
In May 2006, Carlyle Europe Technology Partners (CETP) acquired a majority shareholding in Transics and together with senior management, Walter Mastelinck and Ludwig Lemenu, began actively working on further expansion of the European activities of Transics. The established market leader in the Benelux and France, Transics pushed further into Spain, Germany, Scandinavia and Central and Eastern Europe winning several major contracts. In April 2007, Carlyle supported Transics in the acquisition of Delta Industry Service (DIS), a French provider of IT solutions for the retrieval, processing and archiving of tachograph data. The takeover enabled Transics to expand its product range and further reinforce its position in France.
Walter Mastelinck, CEO of Transics, commented on the transaction, “We are delighted to have partnered with Carlyle which has supported Transics through a key phase of growth during which our revenues have practically trebled. Carlyle has supported us in our expansion plans as we have developed the business across Europe. Their understanding of our business both from a transportation and a technology perspective has been invaluable to the company and fundamental to the growth and success we have enjoyed. We are excited about the opportunities that this timely exit will create, including the partnership with Parcom.”
Vladimir Lasocki, Managing Director at The Carlyle Group said, “Transics is an outstanding example of a company that delivers outstanding growth through innovation and excellence in execution. We are proud to have supported the company's growth through our investment and sector expertise. We are delighted with this outcome and wish the company and its shareholders every success in the future.”
The investment in Transics was made through Carlyle Europe Technology Partners, L.P., a