Transcan Acquired By Seven Asset Management

Fleet management telematics specialist Transcan has undergone a significant business sale, being acquired by family-owned logistics firm Seven Group for an undisclosed sum.

Transcan's Business Sale to Family-Run Logistics Group

Fleet management telematics specialist Transcan has undergone a significant business sale, being acquired by family-owned logistics firm Seven Group for an undisclosed sum.

This strategic move marks a new chapter for Transcan, a company specialising in manufacturing and servicing temperature control equipment for cold chain logistics, including chilled food transport, pharmaceutical logistics, cold rooms, and livestock transportation.

Growth and Scale Up: Transcan’s Evolution

Transcan was founded in Sussex in 1986 by engineers Richard Howells and David Doyle. From humble beginnings—reporting an £80,000 turnover by its third year—the company steadily scaled up to become a market leader in temperature-controlled logistics solutions by the early 2000s.

In 2003, the founders sold the company to business trio Mel Pye, Dave Thorley, and Gareth Prosser, while retaining a 5% shareholding. This transition allowed the company to further scale up its operations, leveraging new management expertise to expand its market reach.

Acquisition by Seven Group: A Strategic Move

By 2006, the shareholders sought an exit and appointed Mark Sapsford to facilitate the acquisition of the business. Seven Group, a diversified logistics specialist, emerged as the ideal buyer. Group chairman Roy Dunnett aimed to integrate Transcan with his existing remote fleet monitoring system, Seven Eye. Following successful negotiations led by Sapsford and the vendor shareholders, Transcan merged with Seven Eye to form Seven Telematics, generating a combined net profit of £1.3 million annually.

Expanding Through M&A: Transcan’s Journey Continues

Transcan’s acquisition set the stage for further industry consolidation. In 2019, private equity firm Lyceum Capital acquired Seven Telematics as part of a broader strategy to scale up its telematics portfolio. This involved merging with other fleet technology brands such as Isotrack, Verilocation, and Alcolock, ultimately transforming Connexas into the UK’s leading connected fleet and vehicle SaaS provider.

Final Business Sale to Addsecure

In 2020, Lyceum executed another business sale, selling Connexas Group, including Transcan’s legacy, to Swedish PE-backed smart technology firm Addsecure. This transition positioned the business within a larger European network of telematics and fleet management solutions, ensuring continued innovation and growth in the sector.

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