Alantra advises on the sale of Connexas Group
SECTORTechnology
ServiceM&A
Alantra, the independent global mid-market investment banking firm, has advised Horizon Capital-backed Connexas Group on its sale to AddSecure, a leading European provider of premium solutions for secure data and critical communications.
Connexas provides connected vehicle technology and fleet management solutions throughout the UK, EU, North America and Australia. With end-to-end technology solutions spanning full journey and delivery management, high definition camera systems and driving performance applications, Connexas empowers fleets to become smarter, safer and more efficient. Connexas recently won mid-cap Technology Company of the Year at the 2019 UK Business Tech Awards.
The acquisition of Connexas enables AddSecure to establish a presence for transport and logistics in the UK market, and furthers AddSecure’s strategy of becoming a leading provider of Fleet and Transport Management solutions across Europe. Substantial investment from Horizon Capital supported Connexas to develop a Smart Transport Solutions Group. Both pace of change and profitability have accelerated since 2018 with the expansion of technology suite and entry into new market verticals via the acquisitions of Verilocation, Alcolock GB and Seven Telematics.
The international team advising the sellers included Richard Sanders, US-based head of Alantra’s Technology practice John Emery, Robert Young and Luke Parvin.
Richard Sanders, partner at Alantra who led the deal team, commented, “It’s testament to the quality of the Connexas business that it has secured this sale despite the onset of the current economic challenges with the clear strategic rationale underpinning the long-term value to AddSecure.”
Jim Sumner, Chairman of the Connexas Group said: “Connexas has come a long way with the support of Horizon, evolving from a predominantly legacy hardware-based integrator to a SaaS-based, end-to-end software partner for its customers.”
Martin Squier, Horizon Partner and Connexas Board Member, commented: “With the right strategy, an exceptional management team and focused investment in technology, Connexas has transformed its profitability, market position and prospects. It has been our absolute pleasure to support such a talented team and we wish them well in future. We’re delighted the business has found such a supportive new partner in AddSecure.”
