The acquisition of Cammax by Canadian transport technology giant Modaxo marks a new era for the Castleford-based ticketing machine specialist. This strategic move promises growth and enhanced innovation for Cammax while maintaining its brand identity.
Cammax, known for its production of self-service ticketing machines for venues such as car parks and public transport stations, has now become a part of Modaxo. Modaxo is an Ontario-based conglomerate with diverse international transport software interests. The financial specifics of this acquisition remain undisclosed, preserving confidentiality between the parties involved.
Cammax has carved a niche for itself with its customisable, user-friendly software solutions catering to UK transport and parking operators. Notable clients include Bristol City Council and Parking Eye, underscoring their reach and influence in the sector.
With approximately 40 employees, Cammax has excelled in providing specialised solutions in its field. Its reputation for enhancing user experiences through technology has set it apart from competitors.
The integration of Cammax into Modaxo’s expansive portfolio is expected to yield significant benefits. This acquisition allows Modaxo to strengthen its position in the UK market while leveraging Cammax’s technological expertise.
Julian Rooney, Managing Director at Cammax, will continue to lead the UK operations, ensuring continuity and a smooth transition post-acquisition.
Existing management will stay on board, ensuring the current business ethos and operational integrity are maintained.
Julian Rooney expressed enthusiasm about the merger, highlighting its potential to enhance customer offerings and industry innovation. “Joining the Modaxo family is an exciting milestone for Cammax. We share a common vision of transforming the transportation and parking experience through technology,” he stated.
Laurent Eskenazi, head of EMEA, UK, and Asia at Modaxo, emphasised the alignment of Cammax’s track record with Modaxo’s vision. “We are delighted to welcome Cammax and its employees and customers to the Modaxo family,” said Eskenazi.
Dow Schofield Watts provided advisory services to Cammax and its shareholders during this cross-border transaction. They brought in their expertise to ensure a seamless deal.
Legal advice was rendered by Gordons LLP, with partner James Fawcett taking the lead. This collaboration ensured all legal aspects were meticulously handled.
Roger Esler, Corporate Finance Partner at DSW, acknowledged Cammax’s evolution and described the acquisition as a tremendous opportunity for further growth.
Integration with Modaxo brings investment and support to Cammax, promising enhancement of its innovative capabilities. It is anticipated that this collaboration will foster the development of advanced technological solutions for the industry.
This acquisition forms a platform for Cammax’s further expansion, driven by the resources and global reach of Modaxo.
Despite the acquisition, Cammax will retain its brand identity and operational autonomy. This decision ensures the company continues to resonate with its existing clientele who trust its services.
The acquisition of Cammax by Modaxo is poised to drive growth and innovation in the transport tech industry. With maintained brand identity and strategic support from Modaxo, Cammax is well-positioned for a promising future.
