Trakm8 has acquired DCS Systems, the parent company of the RoadHawk dashcam brand, for £3.3 million.
DCS specialises in the design and distribution of camera systems for the motor vehicle, bicycle and security markets. DCS trades under three main brands: RoadHawk, Dogcam and Lawmate.
Cameras are being increasingly used in a wide range of applications, including a significant demand for forward facing vehicle cameras to record driving incidents and to mitigate the risk from ‘crash for cash’ accidents. Trakm8 has an existing relationship with DCS, supplying some Trakm8 customers with its RoadHawk cameras.
DCS’s last unaudited accounts for its financial year ending 30 April 2015 reported revenues of £2.8 million and profit before tax of £0.6 million. Trakm8 funded the Acquisition from its existing cash and bank facilities. Trakm8 has also obtained a further debt facility from HSBC Bank of an additional £2 million taking the total debt facility to £5.7 million, of which £3.7 million is now drawn down following the Acquisition. DCS will continue to be based in Bodmin, Cornwall and has six staff.
John Watkins, executive chairman of Trakm8 said: “The acquisition of DCS marks another significant milestone in Trakm8’s growth strategy and reflects the growing demand from our fleet and insurance customers for camera applications. We plan to deepen the integration of the camera technology into our telematics solutions for both our fleet and insurance clients.
“Video data is increasingly used to monitor behaviour and to replay outcomes. The increase in the richness of the data generated by our telematics solutions will continue the trend of the increasing value for money in our propositions.”
Jason Thornton - 30/07/2015 09:50
Two of our leading suppliers join together! First Choice Minibuse's have been using both Trakm8 & Roadhawk over the last few years to not only help us reduce accident claims, but support our commitment as a 'Best Practice' supplier. Which in turn has helped us achieve many accreditation's including FORS.