Add-on Acquisition • Information Technology

PrePass Safety Alliance Acquires CVO

On July 12, 2022, PrePass Safety Alliance acquired information technology company CVO from Astatine Investment Partners

Acquisition Context
  • This is PrePass Safety Alliance’s 1st transaction in the Information Technology sector.
  • This is PrePass Safety Alliance’s 1st transaction in the United States.
  • This is PrePass Safety Alliance’s 1st transaction in Arizona.

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M&A Deal Summary

Date July 12, 2022
Target CVO
Sector Information Technology
Buyer(s) PrePass Safety Alliance
Sellers(s) Astatine Investment Partners
Deal Type Add-on Acquisition

Target Company

CVO

Phoenix, Arizona, United States
CVO specializes in systems integration, bringing together complex technologies and infrastructure to enable innovative V2x, connected vehicles, and payment for clients. CVO is a business process outsourcing company, operating primarily within the transportation niche. CVO was founded in 2018 and is headquartered in Phoenix, Arizona.
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Buyer Overview 1

Buyer

PrePass Safety Alliance

Phoenix, Arizona, United States

Category Company
Sector Information Technology
DESCRIPTION

PrePass Safety Alliance is established to improve commercial transportation safety and efficiency. PrePass allows states to preclear qualified motor carriers to safely bypass ports of entry and weigh station facilities at highway speeds. The Alliance membership is comprised of trucking industry leaders and state agency representatives to ensure that PrePass services remain balanced between safety and efficiency. PrePass Safety Alliance is based in Phoenix, Arizona.


Deal Context for Buyer #
Overall 1 of 2
Sector: Information Technology 1 of 1
Type: Add-on Acquisition 1 of 2
State: Arizona 1 of 1
Country: United States 1 of 2
Year: 2022 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-10 FleetDrive 360

Franklin, Tennessee, United States

FleetDrive 360 offers tools for driver qualification file management, CDL monitoring and MVR checks, drug and alcohol program management, electronic forms and workflows, and other compliance-related processes that support transportation companies in maintaining regulatory readiness. FleetDrive 360 was founded in 2020 and is headquartered in Franklin, Tennessee.

Buy -

Seller Profile 1

SELLER

Astatine Investment Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2005
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Astatine Investment Partners is a private investment firm specializing in the acquisition of infrastructure assets in North America and Europe. Astatine Investment Partners looks for assets with predictable cash flows, strategic competitive advantages, and limited commodity or merchant risk. Specific sectors of interest include roads, bridges and tunnels; airports, ports and rail; water supply and wastewater treatment; gas transportation, storage and distribution; power generation and electric transmission; and utility services for residential, commercial and industrial customers. Astatine Investment Partners was formed in 2005 and is based in Greenwich, Connecticut.


Deal Context for Seller #
Overall 11 of 13
Sector: Information Technology 1 of 1
Type: Add-on Acquisition 6 of 7
State: Arizona 1 of 1
Country: United States 8 of 9
Year: 2022 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-18 Big Truck Rental

Tampa, Florida, United States

Big Truck Rental is a provider of rental garbage trucks serving public, private and municipality waste haulers throughout the United States and Canada. The company oversees a fleet of 300+ refuse trucks with presence at over 50 rental locations across North America. Big Truck Rental was founded in 2002 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-08 Howard Energy Partners

San Antonio, Texas, United States

Howard Energy Partners is an independent midstream energy company that owns and operates natural gas gathering lines, processing facilities, and pipelines, as well as oil gathering lines, a liquids stabilization plant, and bulk liquid storage terminals. Howard Energy Partners was founded in 2011 and is based in San Antonio, Texas.

Sell -