Altech Netstar, a subsidiary of JSE-listed technology group Altron, has acquired 100% of Australian fleet management business Fleet Logistics for an undisclosed sum.
Fleet Logistics, which trades as EZY2C, specialises in fleet management solutions for local government, the car rental industry and commercial customers. Altron said the deal forms part of the group’s strategy of growing its operations in international markets.
It’s is the second Australian acquisition by the group, with Altech Netstar having acquired Pinpoint Communications, which specialises in vehicle telematics, asset, fleet and works management, driver and personnel identification, and certified telematics, back in May 2015.
The value of the EZY2C acquisition has not been disclosed.
Altron CEO Mteto Nyati said in a statement that the deal “propels Altech Netstar as a dominant competitor in the fleet management in Australia, with an installed base of over 40 000 vehicles”.
“Altech Netstar is gaining share in fleet management and delivered a solid performance in our last financial year,” Nyati said.
“The EZY2C acquisition gives us scale in a market that is highly fragmented. It also extends our presence into new territories previously not covered by Pinpoint Communications. The combined operations will better serve both enterprise and government customers,” he added.
EZY2C joint MDs Evan Penn and Rick Firth, will be staying on in the business. “This will enable us to develop the synergies that Altech Netstar’s large footprint in Australia will bring to EZY2C,” said Netstar MD Harry Louw. – © 2017 NewsCentral Media