Cashless card developer DKV Mobility Services Group has been bought by private equity major CVC Capital Partners.
DKV specialises in cards used by commercial drivers for fuel, tolls and other services, and their associated tech.
The company says it has 170,000 customers across more than 40 European countries, and generated sales of €7.2bn last year.
CVC, which tapped its $18bn seventh flagship fund for the deal, takes a 20 per cent stake in the European company.
The buyout major said it would support the company in accelerating its successful growth strategy, in close cooperation with the majority owners and management.
Strategic priorities will include the further digitalisation of DKV’s business model and the extension of its service offering.
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