On October 1, 2024, Powerfleet, Inc., a leading global provider of AIoT SaaS solutions for the mobile asset industry, completed its acquisition and related financing of Fleet Complete, a key player in connected vehicle technology and fleet management, for a total acquisition value of US$200 million. This acquisition expands Powerfleet’s footprint in both North America and Europe.

Aird & Berlis LLP and Olshan Frome Wolosky LLP served as Canadian and US legal counsel, respectively, to Powerfleet, with William Blair & Company L.L.C. as the lead financial advisor and Rand Merchant Bank as the South African advisor.

The Aird & Berlis team was led by Jeffrey Merk and included Liam Tracey-Raymont, Karlie Nordstrom and Christian Nianiaris (Capital Markets), Sam Billard and Jenaya McLean (Financial Services), Paige Backman (Privacy), Alex Kagan (Labour & Employment), Ken Clark (Intellectual Property), Faruk Gafic and Jasraj Shergill (Real Estate), Stephen Zolf and Portia Biswas (Competition; Investment Canada Act), and Manjit Singh, Saam Nainifard and Angelo Gentile (Tax).

Torys LLP served as legal counsel to the co-controlling shareholders of Fleet Complete, with Centerview Partners LLC and Barclays as financial advisors.