Driven Solutions bought for £4.3m
Software and business process solutions company The Innovation Group (TIG) has bought North American roadside assistance company Driven Solutions.
TIG bought Driven from AG Roadside LLC for a total of £4.3m, with £3.7m being paid over the next two to four years.
Driven works with about 30,000 towing and roadside assistance providers to deliver services to government entities, fleet providers, insurers and credit card membership programmes across North America.
In 2013, Driven Solutions made a loss before tax of £0.2m.
TIG chief executive Andy Roberts said: “We are very pleased with this acquisition, a strategic fit that will broaden our service proposition in North America. It also follows closely our model as we bring an additional, margin enhancing piece of the supply chain into our offering. We look forward to working with the team as we push ahead with our US ambitions.”