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TR Fleet acquired by Safo Group

TR Fleet has been acquired by Italy-based fines management and automotive IT specialist Safo Group, which has taken a 75% stake in the business.

trfleet

TR Fleet managing director, Julie Summerell.

The acquisition will see Safo further develop TR Fleet’s ‘DriveSecure’ grey fleet compliance software package and market it throughout Europe.

TR Fleet managing director Julie Summerell said: “When I set up TR Fleet I wondered if there was an existing data hub on the market but I couldn’t find anything that was based on the driver rather than the vehicle. As the business has grown and developed I needed a partner that had a similar vision and commitment to driver safety and would help me develop DriveSecure into the hub that I always thought it could be.”

Safo Group CEO Dr Elpidio Sacchi said TR Fleet will remain autonomous with its own identity and will be presented as TR Fleet in the other countries where Safo is already present.

He added: “We already process more than 50,000 fines per year in the UK and we work with some of the biggest parking agents for the electronic exchange of fines. I think there is a lot that can be done for developing the way in which the leasing and rental industry interacts with the authorities. We have a fully operating solution that has been adopted by more than 400 authorities. Most companies use leasing or rental products but have so many issues with fines, maintenance, and insurance. They need a professional product.”

Summerell concluded: “We’ve both got some very ambitious growth plans for the UK and I’m assured by Sacchi that they will be mirrored in Europe.”

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For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for 16 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. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.