INELO Group finalises the acquisition of CVS Mobile and becomes the international leader in telematics
INELO Group, the leading provider of innovative technologies for the TSL sector in Poland, controlled by the private equity fund Innova/6 from the Innova Capital group, has acquired 73.5% of shares in the Slovenian telematics player CVS Mobile and becomes the leader in the field of integrated technological solutions for heavy-duty transport in the CEE/SEE region with a total of over 68 000 devices and access to 10 European markets. This is INELO third M&A transaction. The most recent one, in 2020, was a purchase of majority shares in Marcos BIS - the leading provider of transport management software - TMS Navigator. CVS Mobile will help to expand the geographical footprint for INELO Group's advanced products - specifically in the area of driver's work time management - and complement the telematics solutions for heavy fleets. INELO's clients currently include over 10 000 transport companies and 42 controlling institutions throughout Europe. INELO's CEO Magdalena Magnuszewska is expecting the Group to benefit further from strategic expansion.
“We want to create an important European player specialising in the provision of one-stop-shop services for the transport industry. This is the main reason why we have decided to expand the INELO Group even further and acquire shares in the Slovenian telematics services provider CVS Mobile. We see this transaction as a significant geographical expansion and an opportunity to build a competitive advantage on the SEE/CEE markets. This is also a tremendous opportunity to exchange know-how and best practices, because the founders of CVS Mobile will continue to run the company. The extensive know-how and experience of the founders will help us improve TSL solutions, strengthen our presence, and launch the products of the INELO Group on key markets,” said Magdalena Magnuszewska, CEO of the INELO Group.
“INELO Group is a high potential company, operating on very promising telematics solutions market. The acquisition of CVS Mobile is another step in the implementation of INELO’s strategy, which involves dynamic growth,” – said Krzysztof Kulig, Senior Partner at Innova Capital. “We are delighted that our experience and financial involvement have contributed to the further growth of the INELO Group,” he added.
An international partner in telematics
CVS Mobile is a leading specialist in telematics solutions mainly for heavy transport (the share of heavy-duty vehicles constitutes over 80%). The company established in 2005 in Ljubljana, Slovenia, is under the management of Ciril Mlakar, Ales Likar, and Valter Grilanc, and has over 2 300 active clients as well as over 30 thousand telematics devices installed across 10 markets, mainly in the CEE/SEE regions. In 2020, CVS Mobile generated revenue of €8.5 million.
The company’s portfolio includes fleet monitoring and management systems. Its flagship product – the telematic cloud platform mobileWEB – is supplemented with a set of devices installed in vehicles, from basic ones like MG30 to more advanced such as MG10-DG10, used to monitor vehicles in real time – the equivalent of INELO’s GBox. In turn, CVS Mobile’s OBC740 tablet – the counterpart of the GBox Assist – allows for unlimited communication between the vehicles and the “base”. The products offered in the portfolio of the Slovenian company constitute the perfect expansion of the INELO’s broad offer of integrated technological solutions for the transport industry.
“CVS Mobile is mainly active in telematics solutions while INELO focuses on integrated solutions for the TSL industry. We are aware of the fact that a single product is no longer enough on the transport technology market, which is why we want to work together with INELO to develop an offer of comprehensive and advanced one-stop-shop solutions. This will lead CVS Mobile to further accelerate growth and build success on the European market. In the last few years, many of the telematics players have joined forces with their peers to increase their business potential and to co-create the cutting-edge innovations in the telematics field. Also, we believe that the transaction with INELO Group will lead to new opportunities for our company and employees, as we will focus on the development of telematics solutions and their provision to our clients,” added CVS Mobile co-founder Ciril Mlakar.
INELO with new products on international markets
The portfolio of the INELO Group includes solutions such as TachoScan Control and 4Trans, i.e. software analysing driving time, comprehensive outsourcing services for carriers under the brand of OCRK, and GBox – an advanced vehicle tracking and monitoring system. Besides products dedicated to the Polish market, INELO team has also developed its latest solution for driver’s worktime analysis dedicated for international clients.
“The latest INELO product: TachoScan Web is a SaaS solution that analyses driving time and is dedicated for foreign markets. The system supports archiving, management of work time data, and creation of simple documentation required during inspections. As we have combined our forces with CVS Mobile, a company with a presence on numerous international markets, we strengthen our geo market reach and will be able to launch our latest product on a much wider scale,” said Magdalena Magnuszewska.
About Inelo Group
The Inelo Group is a leading Polish company, for over 20 years providing SMEs and transport market leaders with TSL industry-focused digital solutions in the field of satellite vehicle location systems and software for analysing and settlement of drivers' working time. With its wide product base, implementing the one stop shop strategy, it has become a business partner for 10,000 transport and logistics companies. The Inelo Group also offers a wide exposure to integrated technological solutions with particular emphasis on Work Time Management for foreign markets, including SaaS-based Tachoscan Web. Moreover, the Polish brand provides 42 enforcement authorities in 23 countries with tools for international road transport control.
CVS Mobile offers telematics services for various industries and services in connection with fleet management system (FMS). CSV Mobile was founded in 2003 in Slovenia and operates in ten foreign markets. Approximately 85% of the CVS Mobile business is based on the transport & distribution industry, where telematic services are nowadays a necessity for those companies in order to operate efficiently. The main strategic focus of CVS Mobile is to expand its telematic services internationally.