Michelin To acquire Brazil-based digital fleet management company Sascar, enterprise value €520M
- Announced that it intends to acquire all outstanding shares of Sascar, the leading Brazilian digital fleet management and freight security company.
- The So Paulo-based company, which has 870 employees, generated revenue of BRL 280 million (around EUR 91 million) in 2013 and has enjoyed robust average growth of 16% over the past three years, with solid and consistent performances (EBITDA of 37% in 2013). The innovative and dynamic company has developed a strong presence in the independent trucker and small truck fleet segment in Brazil, which underpins the country's land transportation market.