ERJ staff report (PR)
Clermont-Ferrand, France – Groupe Michelin is to pay around €520 million to acquire Sascar, a São Paulo-based digital fleet management and freight security company, the tire maker announced 9 June.
The deal, which is subject to approval from competition authorities in Brazil, is part of Michelin’s plans to expand its service offering for truckers and to speed the growth of its truck tire business in the country.
With 870 employees and 2013 sales of around €91 million, Sascar has achieved average growth of 16% over the past three years. The company, added Michelin, has a strong presence in the independent trucker and small truck fleet segment in Brazil: managing some 33,000 fleets or around 190,000 trucks.
“Michelin will benefit from the client base and human, technical and marketing skills built up by Sascar in the rapidly expanding telematics market for professional truck fleets and thereby accelerate the development of services for its customers worldwide,” said Jean-Dominique Senard, CEO of the Michelin Group. “This will help us strengthen an important area of growth for the Group."
The acquisition includes the purchase price of BRL 1,353 million (around €440 million) and BRL 247 million (around €80 million) in debt, according to a Michelin press statement.