Groupe Michelin has entered into an agreement to purchase Masternaut, one of Europe’s largest telematics providers.
“Michelin is consolidating its expertise in telematics, enabling us to optimize customer mobility and respond to the needs of a changing market. Masternaut represents a further step in the expansion of our Services & Solutions business, especially in Europe and for light vehicle fleets,” said Florent Menegaux, Managing General Partner.
The acquisition will allow Michelin to speed up the development of its Service & Solutions for light vehicles and support the booming fleet market; enable Masternaut to roll out its offering across the whole of Europe; and increase the volume of data captured.
Masternaut operates primarily in France and the United Kingdom. It provides a technical platform equipped with the latest technology and offers on-board telematics solutions to optimize vehicle fleet management and monitoring. Masternaut manages over 220,000 mostly light utility vehicles under contract. The transaction has been made on the basis of 8 times 2018 Ebitda before synergies.