We are pleased today to announce the sale of Trutac to Microlise.  The transaction sees the Coventry-based experts in fleet compliance and management software becoming a part of the Microlise group, which itself offers a broad range of fleet solutions including vehicle tracking, telematics and journey management.

This is Shackleton’s 23rd profitable exit, delivering an IRR of 23%.

Since our initial investment in 2010, Trutac has become the UK’s largest and most successful tachograph analysis company – for operators of heavy goods vehicles and coaches.

“We invested when Trutac was in a very challenging transitional phase,” says Shackleton Director, Deborah Hudson.  “We were very pleased to help the company as it became the UK’s leading brand, strengthened its team, and reinforced its core offering.  As a small fleet operator, I can confirm its recent product releases really do save time and add value.”

“Shackleton has been a very supportive investor, working constructively with us in all stages of turnaround, development and growth,” says MD, Terry Ramsey.

Trutac is a natural fit with Microlise, which offers a range of complementary solutions including telematics, journey management and proof of delivery solutions to maximise safety, profitability and customer engagement while reducing environmental impact.

Trutac’s success arises from the quality of a management team led by Terry Ramsey and Commercial Director Jemma James; and from the efforts of a highly competent and motivated team of colleagues.

Nadeem Raza, Microlise’s Chief Executive Officer says: “We are delighted to announce this acquisition and we welcome the TruTac team to Microlise. This union strengthens our presence in both the HGV and PSV sectors, and complements our group offering of real-time fleet management systems to enable smarter and more accurate operational decisions. We have identified strong synergies between the businesses, particularly across the development of new products and services. We look forward to actively pursuing our ongoing mutual success.”

For further information:


Shackleton Ventures

Wendy Stewart

+44 (0)1962 842621




Mary Henry

+44 (0) 1773 447407

+44 (0)7980 694275

: mary.henry@microlise.com



Jemma James

+44 (0) 02476 690000

+44 (0)7894 475074



PR Contact

Liam Olliff, M1 Marketing

+44 (0)1934 712701

+44 (0) 7779 240321




Notes to editors


Shackleton Ventures

  • Shackleton specialises in direct secondary venture and development capital investments – where Shackleton will buy a portfolio of existing investments, or an individual asset, from an investor that is seeking liquidity.
  • Shackleton’s investment in Trutac was made through Shackleton Secondaries LP. The first of Shackleton’s four funds
  • Shackleton’s funds have acquired investments from a range of institutional and corporate vendors and from several private individuals.
  • Shackleton secondary funds are managed by FCA-authorised Shackleton Finance Limited.
  • For further information: shackletonventures.com



TruTac are experts in logistics software, data and compliance. We are the UK’s largest and most successful tachograph analysis company. We design and deliver software solutions for HGV and PSV fleets of all sizes and sectors; we make managing compliance and data easier, saving time, money and adding value. Trutac offers

  • Compliance and operations solutions
  • Software and bespoke development
  • Hardware and stationery products
  • Tachograph analysis bureau
  • Training and Consultancy
  • Driver Apps

For further information: www.trutac.co.uk


About Microlise

Microlise, headquartered in Nottingham, is the UK’s market leader of telematics and transport technology products, with over 500,000 connections around the world. Its Fleet Performance, Journey Management, Planning & Optimisation and Proof of Delivery products are used by fleet operators while its solutions are also successfully deployed by OEM partners including MAN Truck & Bus UK, JCB and Tata Motors in India.

For further information: www.microlise.com.