PE-backed Lysanda bolts on Tracker
UK-based Lysanda, a developer of automotive telematics and informatics solutions backed by Disruptive Capital Finance, has acquired Tracker Network, a subsidiary of Direct Line Group.
The acquisition is designed to expand Lysanda's B2C sales capacity and extend the firm's infrastructure.
The combined companies expect to report revenues of around £20m.
In 2011, existing backer Disruptive Capital Finance led a £10m round for Lysanda, according to unquote" data. Private investors also participated in the funding round.
Disruptive Capital led the firm's first funding round in 2007, when £500,000 was raised to develop the company's technology. In 2009, the GP led a £1.3m funding round for the firm via its Sustainable Technology Fund, with co-investment from LogiSpring and private investors.
Company
Based in Cowley, Tracker Network is a vehicle recovery firm and a former subsidiary of Direct Line Group. The company reports more than 350,000 customers and has recovered 22,323 assets to date, alongside stolen vehicles worth £479m.
People
Edmund Truell is chairman of Disruptive Capital.
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