Horizon Capital has exited Connexas Group to AddSecure, a European provider of solutions for secure data and critical communications.
Connexas provides connected vehicle technology and fleet management solutions in the UK, EU, North America and Australia.
The company aims to empower fleets to become smarter, safer and more efficient using end-to-end technology solutions for delivery management, high definition camera systems and driving performance applications.
Connexas recently won mid-cap Technology Company of the Year at the 2019 UK Business Tech Awards. “Connexas has come a long way with the support of Horizon, evolving from a predominantly legacy hardware-based integrator to a SaaS-based, end-to-end software partner for its customers.” said Jim Sumner, chairman of the Connexas Group.
Horizon Capital identified a gap in the UK market to develop a Smart Transport Solutions Group and have supported Connexas during its evolution via substantial investment, said the firm.
Both pace of change and profitability have accelerated since 2018 with the expansion of its tech suite and entry into new market verticals via the acquisitions of Verilocation, Alcolock GB and Seven Telematics, according to Horizon.
“With the right strategy, an exceptional management team and focused investment in technology, Connexas has transformed its profitability, market position and prospects,” said Martin Squier, Horizon partner and Connexas board member.
Horizon’s portfolio currently includes the likes of Totalmobile, Sabio, Sapphire and Timico.
