Clifford International, a portfolio company of NewPort Capital acquired Traxgo, a leading Belgian provider of fleet management solutions, on 01/12/2022.
With this, the group now comprises Clifford Electronics Benelux and Faringwell, a party the one acquired last year. Traxgo provides larger rental and leasing fleets with customized solutions that allow fleet managers to better manage the value of their fleets. Traxgo’s services are a valuable addition for Clifford Group, which is thus significantly expanding its fleet management telematics applications business.
Traxgo’s management team also joins as shareholders of Clifford Group.
Together with NewPort Capital, an international growth strategy has been developed, of which buy & build is an important part. Traxgo’s growth prospects are promising.
Bart Cappon, CEO Traxgo: “For us this is a great opportunity to expand our activities in and outside Belgium. We are convinced that in Clifford International we have found the right partner to realize our growth ambitions.”
SDM Corporate Finance assisted Traxgo’s shareholders in the sale to Clifford International Holding, as well as the broad structuring of the transaction.
