Thermo King acquires Celtrak

Goodbody advised the shareholders of Celtrak on a comprehensive sale process and the eventual sale to Thermo King.

Company
Celtrak
Transaction
Sector
Activity
IT & electronic engineering
Date
Country
Ireland - USA

Celtrak was formed in 2000 as a spin-off from Connaught Electronics. Celtrak provided end-to-end telematics products and services for customers in more than 30 countries and in 10 different languages. Thermo King, a manufacturer of transport temperature control solutions for a variety of mobile applications and a brand of Ingersoll Rand, had partnered with Celtrak since 2005 on its TracKing™ telematics solutions, a product that was available exclusively through the Thermo King dealer network. Due to the increasing penetration of telematics and the potential to combine refrigerated controller technology and telematics on one platform, Thermo King acquired Celtrak in 2015.