Francisco Partners Exits Masternaut
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Francisco Partners Exits Masternaut

masternaut nf1Francisco Partners has sold Masternaut Group Holdings, a provider of telematics services to commercial fleets, to a newly formed joint venture between Summit Partners and FleetCor Technologies.

Masternaut is Europe’s largest provider of telematics services and is the result of the two separate companies, Cybit and Masternaut, which Francisco Partners acquired in 2010 and 2011 respectively. The company provides a SaaS-based Mobile Resource Management (MRM) application suite to help businesses of all sizes improve operating efficiencies, such as lowering vehicle fuel consumption, more effectively tracking assets, increasing workforce productivity and reducing vehicle wear and tear. Founded in 1996, the company now employs over 600 telematics specialists and has more than 10,000 customers.  The company is based in London, UK (www.masternaut.com).

shah nf1“We have thoroughly enjoyed the opportunity to work with Martin Hiscox and the team at Masternaut to reposition the company during a time of significant transition within the telematics industry,” said Deep Shah, a partner with Francisco Partners in its London office.

Francisco Partners makes investments in technology companies with transaction values ranging from $50 million to $2 billion. Transaction structures include buyouts, divisional divestitures, recapitalizations, restructurings and growth equity financings. Francisco Partners is headquartered in San Francisco (www.franciscopartners.com).

spetzler“The team has created a position of true leadership in the market and it is well-positioned for future success.” Matt Spetzler of Francisco Partners added, “This leadership position has been enhanced through a heavy investment in developing a suite of market-leading best-in-class products that has set Masternaut apart from its competitors.”

“Francisco Partners has been a highly supportive owner of Masternaut and a true partner to the management team. We appreciate all that has been accomplished and look forward to working with the team at Summit Partners and FleetCor,” said Masternaut CEO Martin Hiscox.

Arma Partners (www.armapartners.com) acted as financial advisors to Masternaut in connection with the transaction.

2014 PEPD • Private Equity’s Leading News Magazine • 6-9-14

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