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Announced

Completed

Bridges completed the $85m investment in Matrix Telematics.

Financials

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Transaction Value£59m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA15x
Share Price Premium-
One Off Charge-

Tags

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vehicle telematics & tracking systems

Minority

Auto Technology

Private

Acquisition

United Kingdom

Friendly

Private Equity

Single Bidder

fleet management solutions

Domestic

Completed

Synopsis

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Bridges, a fund manager, completed the $85m investment in Matrix Telematics, a manufacturer of vehicle telematics systems and developer of fleet management software. “We’re delighted to partner with Bridges. We were looking for an investor who not only shared our vision and ambition for the company’s growth, but also really understood our mission to improve driver safety and reduce accidents on our roads. Their experience of scaling companies like ours – plus their impact expertise in powering better outcomes – will be highly beneficial as we enter the next phase of our growth," Mark Packman, Matrix CEO.

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