Horizon sells Connexas to trade

The acquisition of Connexas enables AddSecure to establish a presence for transport and logistics in the UK market.

Previous funding
Horizon first invested in the company in 2013. During the holding period, the company acquired Verilocation, Alcolock GB and Seven Telematics.

At the time of the initial investment, the firm was investing from Lyceum Capital Fund III, which closed on £330m in May 2013. The firm later rebranded to Horizon Capital and took over management of the Lyceum funds.

Company
Founded in 2013, Connexas provides connected vehicle technology and fleet management in the UK, the EU, North America and Australia, offering technology products and services, such as full journey and delivery management, high-definition camera systems and driving performance applications. For the year ending on 30 September 2019, the company reported adjusted EBITDA of £6m from revenue of £18.4m. Connexas is based in Northampton.

People
Horizon Capital – Martin Squires (partner).

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• Topics
• Exits
• UK / Ireland
• Support services
• United Kingdom
• Horizon Capital (formerly Lyceum Capital)
• Trade sale