June 8, 2017 (London) – International law firm Proskauer represented Investcorp on its NOK 1.8 billion acquisition (US$210 million) of ABAX Group. The transaction is Investcorp’s fourth investment in the telematics sector globally and the fourth in Scandinavia in the past 18 months.
Investcorp is a world-leading manager of alternative investments for select individuals and institutions with more than $21.4 billion of assets under management.
ABAX is a Norway based developer of vehicle tracking systems technology with operations across the Nordic region as well as in Poland, the Netherlands, the United Kingdom and China. The company employs over 350 people and has over 200,000 active subscriptions for its services and 25,500 customers.
This is the second acquisition Proskauer has completed for Investcorp in the Nordic region this year, following Investcorp’s acquisition of Ageras, the Copenhagen-based online B2B marketplace for professional services.
The Proskauer team was led by partner and co-head of global Private Equity and M&A Steven Davis and senior associate Liam Arthur, along with corporate associates Jennifer Stoddart and Jacqueline Ball.