Innova Capital sells stake in Inelo Group to Eurowag in €300m deal

During Innova Capital's ownership, Inelo Group completed four strategic add-on acquisitions.

  • Innova acquired Inelo Group in 2018
  • Inelo provides digital services to the transport, shipping and logistics sectors
  • Eurowag is a pan-European integrated payments and mobility platform 

Innova Capital announced it has signed an agreement to sell a 100 percent stake in Inelo Group to Eurowag. The deal is worth in excess of €300 million.

Inelo provides integrated IT services for heavy-duty transport in the CEE region. The company’s product offering includes driver time analysis and calculation software and GPS satellite location software to aid driver vehicle tracking, routing, and vehicle monitoring. Inelo group is headquartered in Bielsko-Biała, Poland.

Warsaw-based Innova acquired Inelo in 2018. During the ownership period, Inelo Group has made four strategic acquisitions: NUSS, Marcos Bis, CVS Mobile and FireTMS. The add-on companies are headquartered in Leszno, Poland, Katowice, Poland, Ljubljana, Slovenia and Rybnik, Poland respectively.

Eurowag, headquartered in Prague, is a pan-European integrated payments and mobility platform focused on the commercial road transportation industry.

“We are honoured to have contributed our experience and participated financially in Inelo’s transformation from a local business to a leading player in the field of transport technology in CEE,” said Krzysztof Kulig, senior partner at Innova Capital. “During our ownership, Inelo has made four additional acquisitions and significantly expanded both its product portfolio and geographical footprint.”

“This strategically important transaction not only brings additional scale to Eurowag, it also takes us significantly closer to achieving our ambition of delivering a fully integrated, digital end-to-end platform for customers in the commercial road transportation sector,” said Martin Vohánka, Eurowag CEO. “Inelo adds approximately 87,000 connected trucks to our network and solidifies our position as a leading provider of fleet management solutions to the CRT industry in the CEE region.”