Orbis Advises On The Cross-Border Sale Of Satrak to Trackunit
Orbis Partners has advised the shareholders of Satrak (UK) Ltd (“Satrak”), a leading provider of telematics products on its multi-million-pound sale to Danish telematics group Trackunit A/S (“Trackunit”).
Formed in 2004, Satrak provides state of the art security tracking and telematics products designed specifically to meet the needs of operators of both commercial vehicles and mobile plant focused on the construction sector. Satrak currently has a population of 23,000 units fitted to vehicles and construction plant throughout the UK, covering both operators and hire companies.
Trackunit is a global telematics solutions business providing services to the transport, service and construction industries as well as machine OEMs. Trackunit is headquartered in Aalborg, Denmark and has more than 150 employees.
The acquisition of Satrak will make Trackunit the leading machine telematics provider in the UK and further strengthens their position in Europe within the machine telematics market.
Satrak will continue its operations in Leeds adding Trackunit next-generation solutions to its existing portfolio.
I am proud of what Satrak has developed into over the past 14 years and am delighted that Orbis found a strategic buyer for the business that will continue to service and develop our valued customer base. I think this is a good time for Satrak to take a leap into the future by being part of a larger international organisation. Thank you to the Orbis team for working tirelessly to complete the transaction.
Dan and Sharon Walton, Co-owners and Founders
We are delighted to have advised Dan and Sharon on the sale of Satrak. We identified Trackunit as an ideal buyer at an early stage, providing the platform for future growth that Dan considered to be a key factor.
Satrak has an impressive customer base and has brought together a skilled a dedicated employee group. Their strong market position in the UK with significant telematics knowhow supplements our business very well. The combination of Trackunit and Satrak will strengthen our joint customer offering in the future.
Legal advice to Satrak was provided by Mark Gibson and Matthew Grice of DWF.