Latvia-based Mapon, one of Northern Europe’s leading fleet management providers, has acquired 100% of the shares of Irish fleet management solutions firm Envirokind, known under the Fleet Data brand.
The acquisition supports Mapon’s expansion plans across Europe
The two companies both offer fleet management, GPS tracking, safety cameras and digital tachograph solutions, helping clients manage their resources, improve road safety, and promote sustainable corporate governance.
The acquisition supports Mapon’s expansion plans across Europe, extending its presence and customer base in Ireland, while also strengthening its team with experts who have extensive experience in the Irish market.
The deal comes after Mapon raised €3m (£2.6m) in early 2024 via the Nasdaq Baltic market from both private and institutional investors to finance acquisitions.
Stephen Connell, founder and managing Director of Fleet Data, will now lead Mapon’s Irish branch.
Connell said: “This transaction marks an exciting new chapter in Fleet Data’s development. Joining the Mapon team will allow us to accelerate growth, expand opportunities and further grow our team here in Ireland. Our clients can continue to rely on the innovative fleet management solutions and support we’ve been providing since Fleet Data was founded in Galway in 2012.”
It’s the latest acquisition by Mapon, which has expanded its market share in Europe with investments for companies in Estonia, Lithuania, Finland, Sweden and Denmark. The company already has offices in the Baltic states, Denmark, Finland, Sweden and Spain, along with a global partner network.
Mapon CEO Davis Siksnans said: “Fleet Data has 13 years of experience in the industry, so integrating their clients – and most importantly, their expertise and know-how – into Mapon will be extremely valuable for our joint future success in the Irish market. Previous acquisitions have proven that this growth strategy is effective in achieving great results.”