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The automotive remarketing sector is seeing big changes due to an increased use of technology, evolving vehicle mix and shifting expectations from buyers and sellers.
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The investment firm is looking to sell its 29.8% stake in Europcar by September. If a new owner doesn’t emerge, the company would enter talks on a debt restructuring deal.
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The proceeds from the new funding will be used to ramp up production to fulfill new orders for electric powertrains for Ford Transits, Ford E-450s, Ford F-59 step vans, Chevrolet Low Cab Forward 6500XD trucks, and Lightning Electric city buses.
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Agilis Systems will expand its offering of fleet management technology following a "significant investment" from private equity firm Spectrum Equity, the Chesterfield, Missouri-based telematics provider announced. The amount of the investment wasn't disclosed.
Read More →French multinational energy services provider Schneider Electric plans to offer fleet management services for companies and agencies considering adding electrified vehicles to their fleet with funding from its new fund, Schneider Electric Ventures.
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New York-based Greenbriar Equity Group has acquired Spireon, Inc. from Bertram Capital, a San Mateo-based equity firm that has presided over the expansion of the telematics provider.
Read More →Telematics vendor GPS Insight has acquired an investment from private equity firm Bregal Sagemount that will fund the company's continued growth as a provider of cloud-based fleet management software, the Scottsdale, Ariz.-based company announced.
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Reviver Auto has closed an $11.1 million funding round for the development of its digital license plate, which is designed in part to help fleet management companies streamline vehicle registration and vehicle tracking.
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A $3.3 billion deal will give China's Geely Holding, which already owns the Volvo Automobile Group, an 8.2% stake in Volvo Trucks.
Read More →Chicago-based private equity firm GTCR is acquiring video-based telematics supplier Lytx, Inc. for more than $500 million in an all-cash transaction, according to a release.
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