In a deal valued at a total of US$709 million, Michelin has announced its intention to acquire all outstanding shares of Sascar, the leading Brazilian digital fleet management and freight security company.
The acquisition will enable Michelin to expand its service offering for truckers and to speed the growth of its truck tyre business in Brazil, while Sascar will gain access to Michelin’s major customers in South America.
of this company, whose business model has proved its worth in Brazil (33,000 f
In a deal valued at a total of US$709 million, 7794 Michelin has announced its intention to acquire all outstanding shares of 7793 Sascar, the leading Brazilian digital fleet management and freight security company.
The acquisition will enable Michelin to expand its service offering for truckers and to speed the growth of its truck tyre business in Brazil, while Sascar will gain access to Michelin’s major customers in South America.
of this company, whose business model has proved its worth in Brazil (33,000 fleets managed, 190,000 trucks),
São Paulo-based Sascar has developed a strong presence in the independent trucker and small truck fleet segment in Brazil, which underpins the country’s land transportation market.
The company, which has 870 employees, generated revenue of around US$124 million in 2013 and has enjoyed robust average growth of 16 per cent over the past three years, with solid and consistent performances.
“Michelin will benefit from the client base and human, technical and marketing skills built up by Sascar in the rapidly expanding Telematics market for professional truck fleets and thereby accelerate the development of services for its customers worldwide”, explains Jean-Dominique Senard, chief executive officer of the Michelin Group. “This will help us strengthen an important area of growth for the group."
The acquisition will enable Michelin to expand its service offering for truckers and to speed the growth of its truck tyre business in Brazil, while Sascar will gain access to Michelin’s major customers in South America.
of this company, whose business model has proved its worth in Brazil (33,000 fleets managed, 190,000 trucks),
São Paulo-based Sascar has developed a strong presence in the independent trucker and small truck fleet segment in Brazil, which underpins the country’s land transportation market.
The company, which has 870 employees, generated revenue of around US$124 million in 2013 and has enjoyed robust average growth of 16 per cent over the past three years, with solid and consistent performances.
“Michelin will benefit from the client base and human, technical and marketing skills built up by Sascar in the rapidly expanding Telematics market for professional truck fleets and thereby accelerate the development of services for its customers worldwide”, explains Jean-Dominique Senard, chief executive officer of the Michelin Group. “This will help us strengthen an important area of growth for the group."
