Michelin buys Masternaut

16th May 2019 | 0 Comments
 
Michelin buys Masternaut
Masternaut will continue to operate under its own brand as a fully-owned subsidiary within Michelin

Michelin has agreed to buy the entire share capital of Masternaut, one of the largest European telematics providers, for an undisclosed amount. While not price details have been released, according to the company, the transaction has been made on the basis of eight-times 2018 EBITDA before synergies. Masternaut will continue to operate under its own brand as a fully-owned subsidiary within Michelin, and the transaction is expected to close within the next sixty days.

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