What’s at stake: Active tech company investor Accel-KKR has taken a 75% take in fleet maintenance and compliance software provider Whip Around for an undisclosed sum.
Background: The company was founded in 2016 to help truck drivers digitally track required vehicle inspections and has since grown in the US market to allow fleet owners to increase asset utilisation, lower costs, and improve safety outcomes. The deal will see a number of early investors exit although VC firm Punakaiki Fund will stay the course.
Main players: Whip Around, Accel-KKR, Punakaiki Fund, Noah Hickey, James Colley, Tim Boyle, Park Durrett.
Fleet maintenance and compliance software provider Whip Around has received a majority investment from tech-focused private equity firm Accel-KKR for an undisclosed sum.
The transaction has already received approval from the Overseas Investment Office, which indicates it is over $100 million.
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Key points
What’s at stake: Active tech company investor Accel-KKR has taken a 75% take in fleet maintenance and compliance software provider Whip Around for an undisclosed sum.
Background: The company was founded in 2016 to help truck drivers digitally track required vehicle inspections and has since grown in the US market to allow fleet owners to increase asset utilisation, lower costs, and improve safety outcomes. The deal will see a number of early investors exit although VC firm Punakaiki Fund will stay the course.
Main players: Whip Around, Accel-KKR, Punakaiki Fund, Noah Hickey, James Colley, Tim Boyle, Park Durrett.
