Hawkesbridge Private Equity manages over $200 million in private equity funds for institutional investors. Hawkesbridge invests in management buyout and expansion capital opportunities.
Sale of Investment in Smarttrack
1 July 2007
Hawkesbridge Private Equity is pleased to announce that it has exited its investment in Smarttrack Pty Ltd.
Smarttrack, an Australian based company that specializes in vehicle tracking and fleet management software solutions,
was purchased by New Zealand based technology company Imarda Limited.
Hawkesbridge received $2.7m from the sale, realizing a $1.7m profit on its initial $1m investment and generating an IRR of 30%.
David Plumridge, a Partner at Hawkesbridge Private Equity commented that "The management team of Smarttrack have done an excellent
job of building this business over the past three years from an early stage venture into a leading Australian vehicle tracking business.
I commend Simon Illingworth (Managing Director) and wish him and his team the best of luck in their new joint venture with Imarda."
