PwC advises IMS on the sale of their SVR business

PwC’s UK Technology Corporate Finance team served as the exclusive financial advisor to the shareholders of IMS in the successful sale of their stolen vehicle recovery (SVR) telematics business through a management buy-out, supported by Foresight.

Background

The SVR business serves over 350 enterprise customers, providing technological solutions for tracking and recovering stolen vehicles. Customers benefit from:

• Comprehensive claim management solutions that cover first notice of loss (FNOL), impact detection, claim repudiation, expert witness provision, and settlement.
• An extensive suite of industry-leading hardware tailored to specific fleet needs and uses.

The demand for telematics solutions, particularly within the rental and leasing industries, has intensified since the onset of the pandemic. Fleet managers have a keen interest in tracking the location of their vehicles and monitoring their status to prevent fraud, theft, and mistreatment. In the long run, this leads to reduced operational costs and potentially lower insurance premiums.

Deal summary

The opportunity was delivered through the strong long-term relationship with the business, built since initial investment by Three Hills Capital Partners in 2019.

The PwC Corporate Finance team led and coordinated all aspects of the transaction on behalf of IMS.

Team

The PwC M&A team was led by Daniel Gallagher and Richard Day with support from Israt Sawda, Ben Stanbridge and Matthew Fourie.

If you would like any further information on the transaction, please contact Richard Day.