Investcorp completed the acquisition of ABAX from Norvestor Equity.

Investcorp completed the acquisition of ABAX, an international provider of vehicle tracking technology, from Norvestor Equity, a private equity firm focusing on lower mid-market control investments in the Nordic region. Financial terms were not disclosed. “ABAX’s market position and what we think are terrific growth prospects represent an attractive investment opportunity for Investcorp. As one of Europe’s fastest-growing telematics companies, ABAX is well placed to further expand in the connected vehicle industry. Having made three previous investments in this exciting sector, we bring successful telematics experience and operational know-how and we look forward to partnering with the management team to establish the Company as a leading player in the global market,” Hazem Ben-Gacem, Investcorp’s Head of Corporate Investment in Europe.