Masternaut operates primarily in France and the United Kingdom. It provides a technical platform equipped with the latest technology and offers on-board telematics solutions to optimize vehicle fleet management and monitoring. Masternaut manages over 220,000 mostly light utility vehicles under contract. The transaction has been made on the basis of 8 times 2018 Ebitda before synergies.
Florent Menegaux, Managing General Partner, said: “Michelin is consolidating its expertise in telematics, enabling us to optimize customer mobility and respond to the needs of a changing market. Masternaut represents a further step in the expansion of our Services & Solutions business, especially in Europe and for light vehicle fleets.”
In a press statement, Michelin explained that the acquisition will:
- speed up the development of its Services & Solutions business for light vehicles and support the booming fleet market;
- enable Masternaut to roll out its offering across the whole of Europe by taking advantage of the Michelin network’s geographical coverage;
- increase the volume of data captured, allowing it to offer its customers the best solutions, improve product performance and develop its data science deployments, such as predictive maintenance.