Targa Telematics strengthens its shareholding structure to accelerate its growth and internationalization. - Targa Telematics

Targa Telematics strengthens its shareholding structure to accelerate its growth and internationalization.

Targa Telematics – tech company specialized in the development of digital solutions in telematics, smart mobility and IoT platforms for mobility operators – announces the enhancement of its shareholding structure with the entry into the capital of an investment company indirectly held by Investindustrial VII LP («Investindustrial»), focusing on a long-term value creation process by accelerating the international expansion started in 2016.

Following the agreement, the management team will continue to play a decisive role in the development of the company and its industrial project.

Targa Telematics, which has its headquarters in Treviso and an office in Turin, recorded revenues of around €40 million in 2020, has 130 employees and 950 customers.

With over 20 years of experience, the company is a supplier to short and long-term vehicle rental companies, financial and insurance companies and large fleet managers such as construction companies and airport operators, offering software solutions ranging from insurance telematics to asset and fleet management to diagnostics and remote telemetry of vehicles.

Following the investment by Investindustrial, Targa Telematics will continue its growth path to strengthen its leadership position in Italy and become a leading company in the smart mobility sector, in the management of large fleets and in the insurtech sector at European and global level. The transaction will also allow the company to further consolidate the existing partnerships with its long-standing customers and to create new client opportunities.

«Investindustrial is the perfect partner to expand our team and pursue the path towards further strengthening and accelerating our growth and internationalisation.” Nicola De Mattia, CEO of Targa Telematics SpA stated “We will thus continue our innovation process in IoT, which is in line with the industrial project that has been fully shared with the new investor. We will work side by side to position ourselves as the benchmark for smart mobility both in Europe and worldwide».

«We are very happy to partner with Targa Telematics.” Andrea C. Bonomi, President of the Industrial Advisory Board of Investindustrial, commented “Being able to work with the company, its management and other shareholders shows how, thanks to innovation, the growth path of excellent companies can be accelerated. Cutting-edge technologies such as those developed by Targa Telematics are recognized not only in Italy, but also abroad and make this company a leading international player that perfectly matches the quality profile of the companies in which Investindustrial usually invests».

William Blair acted as the exclusive financial advisor to Targa Telematics and its shareholders, in connection with its investment from Investindustrial.

 

 

ABOUT TARGA TELEMATICS 

Targa Telematics is an IT company with 20 years of experience in connected vehicles. It provides technological solutions in telematics, smart mobility and digital IoT platforms for mobility operators. The company addresses short and long-term renters, large finance companies and large fleets with a range of services from insurance telematics to asset and fleet management, remote diagnostics and telemetry for vehicles, professional and construction-site vehicles, through to the management of airport service vehicles. Managing over half a million connected assets, in 2020 Targa Telematics reported revenues of €40 million, 130 employees and more than 950 customers. For more information: www.targatelematics.com

 

TARGA TELEMATICS

Elena Bellini, Head of Marketing, Mobile +39 335 135 1277 elena.bellini@targatelematics.com

Susanne Furini, Communication Manager, Mobile +39 345 7274925 susanne.furini@targatelematics.com

 

Barabino & Partners UK

Giuliana Patrone

g.patrone@barabino.co.uk

Tel.: 0044 (0)20 7152642