Lyceum's Isotrak acquires VeriLocation

The acquisition is expected to add to Isotrak's capacity and deepen the company's market reach, providing its customers with a broader product range. The business will now reach in excess of 500 clients worldwide.

Lyceum provided additional capital to Isotrak to finance the acquisition.

Previous funding
Lyceum bought a majority stake in Isotrak from Saints Chamonix Private Equity in August 2013.

Company
Founded in 1996, VeriLocation is a fleet management and telematics software developer headquartered in Northampton. The company has approximately 30,000 vehicles being tracked in the UK, Europe and the Middle East with its GPS fleet tracking software, which focuses on the commercial sector.

People
Lyceum Capital – Dan Adler (director).
Isotrak – Jim Sumner (chairman).
VeriLocation – Andrew Overton (CEO).

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• Topics
• Expansion
• UK / Ireland
• Technology
• Horizon Capital (formerly Lyceum Capital)
• Acquisition finance
• Build-up