30th Jan 2008
Quartix takes the next step forward with Bank of Scotland.
Quartix has today announced a partnership with Bank of Scotland Corporate which will see the Bank making a substantial investment in the business. Selected by the Bank for its impressive record of growth combined with its solid reputation for reliability and customer service, Quartix expects the move to help it consolidate its position as a top performer in the vehicle-tracking sector.
The deal will see Bank of Scotland take a 20% equity stake in the business, with the remaining 80% continuing to be held by the management team. Operational and strategic control of the business will remain with the current management, whose experience and enthusiasm were a leading factor in the Bank’s decision to invest.
Owen Sennitt, Director of Integrated Finance at Bank of Scotland, and leader of the team that completed the deal, said:
‘Quartix is an outstanding business whose recent growth rate is due to the drive, ambition, and vision of Andy Walters and his management team. This is an exciting investment for us, and our funding package will provide a solid platform for future expansion.'
Bank of Scotland’s Integrated Finance unit was launched in 2000 and has since transacted over 100 deals with total funding in excess of £10 billion. Commenting on the investment, Andy Walters, Managing Director of Quartix, said:
'We're delighted to have formed this partnership with Bank of Scotland Corporate, and feel that the prospects for future growth are excellent. This investment will give us the impetus to put in place many of our strategies for maximising our share of the vehicle-tracking market. We'll be aiming to take our place as the supplier of choice to most companies considering vehicle tracking in the UK.'
About Quartix:
Quartix's award-winning, in-vehicle tracking technology enables subscribers,
ranging from small businesses to major corporations, to maximise efficiency of
fleet operations. Proven commercial benefits include significantly lowered fleet
operating costs, more responsive delivery times and improved vehicle security.
The user-friendly technology also assists employers in meeting a wide range of
duty of care responsibilities.
The Quartix GPRS real-time tracking system is
produced in ISO 9001:2000 facilities in compliance with European safety and
vehicle directives. The discreet tracking units can be installed on-site in an
hour and the system is protected by a comprehensive warranty. Product
enhancements are supplied at no extra charge and technical support is provided
by a dedicated in-house team.
About Bank of Scotland Integrated Finance:
Bank of Scotland Corporate, part of HBOS plc, has a reputation for excellence in the provision of corporate finance, delivering innovative funding solutions across a range of markets. Bank of Scotland Corporate employs over 8,300 employees. With experience across many areas of corporate finance, including Integrated Finance, Joint Ventures, Structured Finance, Acquisition Finance, Infrastructure Finance and Housing Finance, Bank of Scotland can draw on an expert pool of professionals with proven track records. Since launching its ground-breaking Integrated Finance unit back in 2000, the Bank has transacted over 100 deals with a total funding in excess of £10 billion. Today Bank of Scotland Integrated Finance provides funding to more mid-market MBOs than any other equity funder in the UK by providing a unique one-stop financing solution which meets all the funding requirements for a business undergoing a transaction.
In addition to its strong start to 2008, Bank of Scotland Integrated Finance completed 12 deals in 2007, including Keepmoat, Polypipe, David Lloyd Leisure, M&H Plastics, Ainscough Crane Hire, Lambert Smith Hampton, Fishers and Charterhouse.
Press Release Index 2004 - 2008
Please click on any of the titles below to access the full press release
30th Jan 2008 -
Quartix looks to the future with Bank of Scotland investment>>
Quartix is looking to consolidate its position as a top player in the vehicle tracking sector following a new partnership announced today with the Bank of Scotland.
29th Oct 2007 -
Quartix makes it into the 2007 Deloitte Technology Fast 50>>
Quartix is delighted to be ranked amongst the 50 fastest growing technology companies in the UK.
13th July 2007 -
Quartix is a Winner in the National Business Awards>>
Quartix is celebrating winning the AXA 'Small to Medium-sized Business' award for Wales and the West Country, putting it in the national finals for the third year running.
22nd May 2007 -
Quartix wins technology award>>
Quartix has won the Technology Award in the 2007 Van Fleet World Honours.
11th April 2007 -
Quartix joins the Best in the West>>
Quartix reaches the top four in the 2007 National Business Awards 'Wales and West' Regional Program.
2nd April 2007 -
Quartix makes Vehicle Management less "Taxing">>
.New, significantly higher Benefit in Kind tax charges are introduced this April on private use of company vehicles.
2nd May 2006 -
Cannon Hygiene places Vehicle Tracking Contract with Quartix>>
Cannon Hygiene Ltd has selected the Quartix vehicle tracking system for its fleet of over 900 vehicles.
27th Feb 2006 - Quartix - the Prescription Tracking System>>
Staff at Global Wholesale Supplies Ltd, of Windsor, were today celebrating the safe recovery of a Mercedes Sprinter van.
30th January 2006 -
Quartix High-Growth Trend Continues>>
Quartix, one of the UK’s leading manufacturer and suppliers of
vehicle tracking systems, has just announced an impressive 65% growth in sales during 2005, with turnover
fast approaching £3 million.
30th September 2005 -
Quartix Joins the Top 10>>
A Cambridge-based company, which
specialises in vehicle tracking technology, is celebrating its inclusion
in one of the UK’s most prestigious and high-profile business award programmes –
the 2005 National Business Awards.
20th May 2005 -
Quartix gains major industry honour >>
Quartix, one of the UK's leading vehicle
tracking technology companies, has just secured a major award from one of the fleet industry's most influential publications.
1st May 2005 -
Quartix on the right track >>
Quartix, one of the UK’s leading vehicle fleet
tracking system manufacturers and installers, has just announced an impressive 71 per cent growth.
25th April 2005 -
Quartix in partnership with Arriva Vehicle Rental >>
Quartix has been selected
by Arriva to provide the technology for its 'TrackTech' vehicle tracking solution
20th Dec 2004 -
Quartix customers win even when they lose >>
Speedy recovery of stolen vehicles
saving time, money and hassle
26th July 2004 -
Quartix tracking foils clean getaway >>
How tracking helped recover a stolen
roadsweeper for Guildford Borough Council
5th July 2004 -
Now vehicle tracking is child's play >>
Quartix has launched a unique
educational project that gives schools an introduction to the science of vehicle tracking
9th March 2004 -
Big Brother takes the Day Off >>
Quartix releases a new feature to allow users
to monitor their vehicles only in business hours
22nd January 2004 -
Try before you buy telemetry >>
Quartix are putting the "try" into "telemetry"
with a month's full system trial for just £295
15th January 2004
- Mobile clocking-on spells end of shift for timesheets >>
A development from vehicle tracking firm Quartix Ltd could mean the end of
timesheets for mobile workers
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