Targa Telematics has made an enhancement to its shareholding structure with the entry into the capital of an investment company indirectly held by Investindustrial VII LP (‘Investindustrial’), focusing on a long-term value creation process by accelerating the international expansion started in 2016.
Following the agreement, the management team will continue to play a decisive role in the development of the company and its industrial project.
Targa Telematics, which has its headquarters in Treviso and an office in Turin, recorded revenues of around €40 million in 2020, has 130 employees and 950 customers.
With over 20 years of experience, the company is a supplier to short and long-term vehicle rental companies, financial and insurance companies and large fleet managers such as construction companies and airport operators, offering software solutions ranging from insurance telematics to asset and fleet management to diagnostics and remote telemetry of vehicles.
Following the investment by Investindustrial, Targa Telematics will continue its growth path to strengthen its leadership position in Italy and become a leading company in the smart mobility sector, in the management of large fleets and in the insurtech sector at European and global level. The transaction will also allow the company to further consolidate the existing partnerships with its long-standing customers and to create new client opportunities.
"Investindustrial is the perfect partner to expand our team and pursue the path towards further strengthening and accelerating our growth and internationalisation,” said Nicola De Mattia, CEO of Targa Telematics SpA. “We will thus continue our innovation process in IoT, which is in line with the industrial project that has been fully shared with the new investor. We will work side by side to position ourselves as the benchmark for smart mobility both in Europe and worldwide.”
"We are very happy to partner with Targa Telematics,” Andrea C. Bonomi, President of the Industrial Advisory Board of Investindustrial, commented. “Being able to work with the company, its management and other shareholders shows how, thanks to innovation, the growth path of excellent companies can be accelerated. Cutting-edge technologies such as those developed by Targa Telematics are recognized not only in Italy, but also abroad and make this company a leading international player that perfectly matches the quality profile of the companies in which Investindustrial usually invests.”
William Blair acted as the exclusive financial advisor to Targa Telematics and its shareholders, in connection with its investment from Investindustrial.