Investindustrial backs Targa Telematics

The GP invested in the company via Investindustrial VII, which held a final close on €3.75bn in November 2019, surpassing its initial target of €3bn. The vehicle acquires controlling stakes in European companies operating in the consumer goods, industrials and healthcare services sectors.

The GP intends to further strengthen Targa's market position in Italy, accelerate its international expansion, and develop new client opportunities.

Following the deal, the management team will stay on with the business.

Company
With headquarters in Treviso and an office in Turin, Targa develops software for smart transport, insurance telematics, asset and fleet management, diagnostics, and remote telemetry of vehicles.

Targa has a customer base composed of around 950 companies, including vehicle rental businesses, financial and insurance companies, and large fleet managers, such as construction companies and airport operators.

Employing 130 staff, the company recorded revenues of around €40m in 2020.

People
Investindustrial – Andrea Bonomi (chair).
Targa Telematics – Nicola de Mattia (CEO).

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