International law firm Pinsent Masons has advised Trafficmaster
Plc (Trafficmaster), a leading supplier of intelligent driving
services, on the acquisition of Fleet Management Solutions, Inc.
(FMS), the refinancing of its debt facilities and an equity
placing. Through its international alliance, Salans in New York
also advised Trafficmaster on the deal.
The Pinsent Masons team advising Trafficmaster was led by
corporate partner Andrew Kerr assisted by Philip Goldsbourgh, Alan
Chan (Corporate) and Philip Scott, Rebecca Wilcock (Banking).
Latham & Watkins provided advice in connection with the FMS
acquisition. Salans’ New York office provided advice on the US
Security Aspects of the new facility.
Commenting on the deal, Andrew Kerr said: "We are extremely
pleased to have advised the Trafficmaster on their acquisition of
FMS, new debt facilities and successful share placing. The
transaction will deliver synergies, including access to the
benefits of Trafficmaster’s sales resource, enlarged product
development capability and existing back-office support
infrastructure. Trafficmaster also believes there are significant
cross-selling opportunities, and that the acquisition will enable
FMS to accelerate its growth and deliver its potential."
FMS is a provider of
satellite-based tracking solutions for remote-based mobile assets.
It was established in California, USA in 2004, and has developed
rapidly into a leading provider of satellite-based, reliable
tracking services. Its flagship product, Fleet Central, allows
users to manage the safety and security of their vehicles,
employees and other mobile resources in areas outside of reliable
mobile phone coverage.
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