The Ontario Teachers’ Pension Plan is entering into a partnership with Fleet Complete, a Toronto-based software company in the vehicle space.
The company provides GPS tracking solutions for enterprises using multiple vehicles for shipping, delivery and transportation in order to optimize efficiency. The Ontario Teachers’ is purchasing private equity in the company from current shareholder Madison Dearborn Partners.
“Fleet Complete has a proven track record of robust growth, underpinned by its successful global expansion strategy and product innovation,” said Jane Rowe, senior managing director for private capital at the Ontario Teachers’, in a press release. “We look forward to working closely with Fleet Complete’s senior leadership team and MDP in a partnership that we believe will help further accelerate Fleet Complete’s global growth ambitions.”
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The investment fits into the Ontario Teachers’ private capital arm’s significant history of investing in the technology sector, noted the release.
“Ontario Teachers’ provides Fleet Complete with access to significant long-term capital,” said Tony Lourakis, founder and chief executive officer of Fleet Complete. “This, coupled with our ongoing partnership with MDP, will enable us to continue our fast growth and focus on being the world’s leading provider of mission-critical connected technologies for fleets, assets and mobile workforce-based businesses.”
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