Through the acquisition, Vehco strengthens its position in Poland, and further realises its strategy of becoming the leading provider of Fleet Management and Transport Management Systems in Europe.
AddSecure-owned Fleet Management Systems provider Vehco has announced that it has acquired frameLOGIC, the leading Polish provider of cloud-based solutions for Fleet Management, Transport Management, and Mobile Workforce Management.
Since AddSecure stepped in as new owners last year, Vehco has actively been pursuing its growth strategy and vision of becoming the leading Fleet Management provider in Europe to heavy commercial vehicles (HCV). The strategic acquisition of frameLOGIC will further accelerate the growth and complement the company’s existing offering. For frameLOGIC, the acquisition is an opportunity to join an expansive European provider and benefit from Vehco’s innovation capabilities and expertise within Fleet Management Systems.
frameLOGIC will continue to be managed as a separate company and brand. Michał Szprynger will join Vehco’s Extended Management Team and report directly to the CEO, Johan Frilund. DLA Piper acted as legal advisor to Vehco.
Anna Stoldt, Corporate Development Director at Vehco, said: “It has been a pleasure to work with David, Matt and Acuity in securing Vehco’s third acquisition as part of the AddSecure Group. The team’s hands-on support, strategic and tactical input and their detailed knowledge of the European telematics and FMS market played a key role in delivering a successful outcome.”
Matt Stamp, Partner at Acuity Advisors, said: “Congratulations to Vehco and AddSecure Group on the acquisition of frameLOGIC. This acquisition represents another key step in Vehco’s strategic journey focused on building a market leading position in European Fleet Management Systems and IoT solutions for commercial vehicles.”
David Copp, Vice President at Acuity said: “We are delighted to have supported the Vehco and AddSecure team on successfully bringing another quality European asset into the group. The business is going from strength to strength and frameLOGIC is a natural extension of Vehco’s existing geographical footprint, adding a strong team, broad customer base and transport management capabilities.”