Lyceum buys Isotrak from Saints Chamonix

Lyceum has taken a majority share in Isotrak, investing alsongside the existing management team led by executive chairman Gavin Whichello and UK managing director Greville Coe.

Silicon Valley Bank provided debt facilities for the transcation.

The plan is to accelerate Isotrak's expansion in the UK and US, as well as develop its cloud-based products suite. The company is aiming for organic growth within the US market's complex fleet management segment, which is estimated to be worth £12.3bn.

Company
Founded in 1999, Isotrak provides vehicle tracking and fleet management software designed to enable businesses that operate large fleets of heavy goods vehicles and light commercial vehicles to reduce costs, improve operational efficiency, lessen their environmental impact and improve customer service.

The company employs in excess of 120 people across its UK office in Milton Keynes and a base in San Diego.

The business is forecast to reach a turnover of close to £30m for 2013, which would represent a three-year compound annual growth rate of 30%.

People
Partner Daniel Adler and investment director Humphrey Baker led the deal for Lyceum and will both join Isotrak's board. Gavin Whichello is the CEO of Isotrak.

Advisers
Equity – PwC, Jonathan Cooper (Financial & commercial due diligence, tax); RW Baird, David Silver (Legal); Travers Smith, Paul Dolman, William Yates (Legal).

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