ABAX expands into Germany under European growth plans
Norwegian telematics company ABAX has expanded into Germany with an office in Berlin.
ABAX has expanded into Germany with an office in Berlin
The firm, which was acquired by Bahrain-headquartered private equity firm Investcorp in June this year, said Germany remains untapped when it comes to advanced aftermarket telematics solutions, with a market penetration rate of only 15% and a potential 3.2 million commercial vehicles to target.
“We are looking forward to our strategic entry into the German market. Like the rest of our markets, the German market demands solid technical solutions which makes it easier to manage small and large vehicle fleets in an efficient and smart manner,” said Petter Quinsgaard, CEO ABAX Group.
The move follows rapid growth rates in the UK and Dutch markets, with future growth planned within Europe.
“ABAX’s continued growth into new European markets highlights the progression that we are making as a company. The German economy is one of the strongest in Europe and will, along with offices in Poland and The Netherlands, help to capture significant market share within mainland Europe,” added Chris Miller, CEO ABAX UK.
Natalie Middleton
Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.
