Samtech seeks bolt-on acquisition to expand fleet management solution in Chile, could consider stake sale – GM

Samtech, a Chilean provider of fleet management solutions for clients in the mining, logistics, and transport industries, wants to expand its local footprint through a bolt-on acquisition and could evaluate a stake sale to grow overseas, General Manager Cristian Barrientos said.

Desirable targets for the Santiago-based company would include local IT krms with solutions that can complement its products portfolio in areas like last-mile delivery and driver monitoring systems, Barrientos said.

Samtech has already held meetings with two potential targets, but it remains receptive to overtures from players shopping themselves as well as sell-side M&A advisors, the GM said.

At the same time, the company could consider selling a stake to a strategic investor to jump-start its foreign growth, Barrientos said. Ideal suitors would be regional or international providers of automation technology solutions and logistics IT services, he added.

Samtech’s growth strategy includes expanding to Peru, Mexico, Australia and New Zealand over the next two years, the GM said.

The company kick-started its foreign expansion in mid-2020 by launching a 50/50 joint venture in Colombia with an undisclosed logistics services provider, Barrientos said. The new enterprise will initially target the local oil and gas sector and is expected to soon become operational, he added.

Samtech, which keeps its knancial record undisclosed, projects a growth rate of 20% in 2021 on the back of the increasing demand for fleet management solutions brought about by the COVID-19 pandemic, Barrientos said.

Some of its customers include mining players like BHP and Sociedad Quimica y Minera de Chile (SQM), as well as logistics companies like FedEx Chile, the CEO noted. It competes with foreign peers like Netherland-based TomTom and Ireland-based Fleetmatics, as well as a few local players, he added.

The company was created in 2012 as a spinoff of Santiago-based providers of hazardous waste services Consorcio Santa Marta.

 Barrientos, Chairman Cesar Rebolledo; and IT and Business Development Manager Ricardo Martin own a combined stake of 88% in the business. The remaining 12% is held by two undisclosed Chilean private investors, the GM said.The global fleet management systems market was valued at USD 7.34bn in 2020 and is expected to reach USD 22.08bn by 2026 at a compound annual growth rate (CAGR) of 20.07% between 2021 and 2026), according to market intelligence krm Mordor Intelligence.

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Entrevista a Cristián Barrientos,
Gerente General de SAMTECH

Tema: Balance 2020 de las industrias que solicitaron servicios de …

Los rubros más movidos

El Samtech Transportation Index, que mide los kilómetros recorridos de …

Cambio de Ejecutivo En Samtech

Mario Subiabre es el nuevo gerente de Operaciones de Samtech. …