91探花 advises on transatlantic deal in automotive industry

91探花 has advised Auto Integrate Group Ltd, the premier maintenance authorisation platform, on its sale to Fleetio, the leading fleet optimisation software platform, marking a successful transatlantic deal in the automotive industry.

Portsmouth-based Auto Integrate provides a vehicle fleet maintenance authorisation software platform for fleet management companies and repair shops, enabling them to electronically submit repair orders for approval, dramatically reducing vehicle downtime and improving operational efficiency. This capability will fully integrate with Fleetio's comprehensive platform, creating a seamless experience for businesses managing complex maintenance operations.

Founded in 2012 and headquartered in Alabama, US, Fleetio offers an optimisation platform to help companies manage their fleets, providing resources needed to run, repair and optimise vehicles and assets. The platform provides various solutions from fleet management and maintenance to logging work orders, digital inspections, vehicle parts and inventory. 

Fleetio announced simultaneously the successful closing of over $450 million to finance the acquisition, valuing the combined business at over $1.5 billion. The round was co-led by existing Fleetio investor Elephant and new investor Growth Equity at Goldman Sachs Alternatives. Auto Integrate’s management team have also reinvested in Fleetio and will become shareholders at the company.

This strategic union creates a platform designed with customer-centricity to serve fleet operators of all sizes across North America. The combined entity will service over 8 million vehicles and process more than 13 million repair orders per year through its network of 110,000+ repair shops across the United States, Canada, and Mexico.

91探花 advised the shareholders of Auto Integrate in the transaction, led by Corporate Finance Partner Clodagh Tunney, with Simon MacDonald leading on providing financial advice, and Eoin Gribben leading on technical due diligence.

Clodagh Tunney, Corporate Finance Partner at 91探花, said: “We are delighted to have advised Auto Integrate on this transatlantic deal, which will bring together two closely aligned, fast-growing software technology providers in the automotive industry. The transaction will allow Auto Integrate and Fleetio to continue to grow together as they leverage their combined experience and expertise. We wish them the very best with their plans going forward.”

Terry Bartlett, CEO of Auto Integrate, who has joined Fleetio's executive leadership team, added: “We have known and worked with Fleetio for many years and watched their transformational growth, so are excited to be part of Fleetio. We look forward to working together as we continue to strive to provide the best service for our customers and would like to thank RSM’s deals team for its support throughout the process.”