Fleet CompleteÂ®, one of the fastest growing tech companies in the connected vehicle space, has announced that it has entered into a new investment partnership with Ontario Teachers´ Pension Plan (Ontario Teachers´), the company said.
Ontario Teachers´, Canada´s largest single-profession pension plan, is acquiring equity from existing investors, including funds managed by Madison Dearborn Partners (MDP), a private equity firm based in Chicago. Ontario Teachers´ will work in joint partnership with Fleet Complete´s management team and MDP to continue executing against the company´s strategic plan.
Financial terms of the transaction were not disclosed.
Lazard and Barclays acted as financial advisors to Fleet Complete. Kirkland & Ellis LLP and Dentons Canada LLP served as legal counsel to Fleet Complete and MDP. Torys LLP served as legal counsel to Ontario Teachers´.
Fleet CompleteÂ® is a global provider of connected vehicle technology, delivering mission-critical fleet, asset and mobile workforce management solutions. For more information, visit fleetcomplete.com.
The Ontario Teachers´ Pension Plan (Ontario Teachers´) is Canada´s largest single-profession pension plan, with USD 193.9 billion in net assets at June 30, 2018. For more information, visit otpp.com and follow us on Twitter @OtppInfo.
Madison Dearborn Partners, LLC (MDP), based in Chicago, is a private equity investment firm in the United States. Since MDP´s formation in 1992, the firm has raised seven funds with aggregate capital of approximately USD 23 billion and has completed over 140 investments. For more information, visit mdcp.com.