Three Hills Capital buys minority stake in Trak Global Group

Three Hills Capital has acquired a “significant” minority stake in Trak Global Group, a telematics technology company.

The capital investment was over £40m and will be used to accelerate the development of new products and services for its insurance, mobility, and automotive clients. Growth focus has been put on North America with acquisitions part of the plans.

This deal comes less than a year since Trak acquired IMS, one of North America’s leading telematics solution providers.

The company offers end-to-end services which insurers need in order to leverage the benefits of usage-based insurance and generate value from telematics data throughout the value-chain.

Trak has partnerships with global insurers, mobility operators, and motor manufacturers, collating and analysing data from IoT connected devices to help firms better manage driver and vehicle risk.

TGG Group CEO Nick Corrie said the partnership creates a capital structure that will “enable us to more rapidly execute our ambitious growth plans, both organic and by acquisition, to become the global leader providing connected, data-driven technology solutions for the insurance and shared mobility markets.”

The deal marks Three Hills Capital’s first investment within the IoT and telematics industry.

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