Johannesburg, September 18, 2025 – Sanari Capital, a private equity firm that invests in medium-sized and mid-market growth companies, has announced a R406 million (US$23.4 million) investment in Ctrack, the global telematics and fleet asset management business.
Sanari invested R250 million ($14.4 million) through its 3S Growth Fund alongside R156 million ($9 million) from its long-standing investor partner, 27four Investment Managers. The transaction marks a significant milestone for both Sanari and Ctrack, signalling the next phase of scale, growth and innovation for their respective businesses.
Operating across Africa, the UK, Europe and Australia, Ctrack’s Crystal platform provides predictive insights to industries ranging from logistics and construction to government and insurance markets. With 40 years of innovation in delivering data-driven technology, Ctrack helps businesses move beyond visibility into foresight, transforming data into actionable intelligence that drives efficiency, safety and growth.
The Sanari and 27four investment builds on Ctrack’s strategic acquisition of Inseego’s international telematics business last year. That transaction, which was supported with a follow-on investment by Convergence Partners, consolidated Ctrack’s global footprint and expanded its presence in key international markets. The new investment will further accelerate this global expansion and support innovation on Ctrack’s unified technology platform.
“This investment comes at a pivotal inflection point for Ctrack,” said Ofentse Pelle, Partner at Sanari Capital, who led the transaction. “The business is already well established as a global leader but continues to show ambition for further growth. We are backing a management team with an impressive track record and a clear conviction to building a business with an enduring impact.”
The transaction brings an important new layer of diversification to Sanari’s portfolio, adding an investment of significant scale and maturity to complement the fund’s growth equity, rollout and buy-and-build strategies.
Pelle said: “Ctrack complements our other investments in education, industrial technology, fintech and energy. Sanari funds both organic and acquisitive growth strategies, seeking expansion across regions – this investment epitomises that strategy.”
He added: “Africa has some of the toughest operating conditions for fleets – mining, cross-border logistics, rural connectivity, security challenges. Telematics solutions developed here are among the best in the world and highly adaptable globally.”
Rory Ord, Head of Private Markets at 27four, commented: “Ctrack has established a strong foundation and the capability to drive further growth by harnessing advanced technology and deep expertise to address the evolving needs of fleet operators on a worldwide scale. 27four is enthusiastic about partnering Ctrack to support and accelerate its next phase of expansion and innovation.”
Ctrack CEO Hein Jordt said: “Sanari Capital and 27four’s investment is a strong endorsement of Ctrack’s continuous growth journey and our position as a global player. With Convergence Partners’ continued support and Sanari and 27four joining us as equity partners, we are accelerating our ability to deliver on our promise of giving businesses the power to predict. Sanari Capital brings a strong focus on unlocking both human and digital potential through its investment, aligned with our values and strategy. It has been a pleasure working with the Sanari Capital and 27four teams throughout this process, and we look forward to building on this partnership.”
Convergence Partners welcomed the new investors. “We are delighted to welcome Sanari and 27four as equity partners, both of whom are parties we have worked well with in the past. This investment validates our conviction in Ctrack’s global potential and strengthens the shareholder base behind Ctrack’s next phase of innovation and global growth. Convergence Partners remains committed to supporting Ctrack’s journey as they continue to lead innovation in global telematics,” said Brandon Doyle, CEO and Founding Partner, Convergence Partners.
Samantha Pokroy, founder and CEO of Sanari Capital, said the deal “illustrates the essence of what Sanari is about: tapping growth that does not rely on economic growth alone, harnessing key sectoral growth drivers and applying our active investment approach”.
“The business’s strategy fits well with Sanari’s 3S investment philosophy – building businesses that are Sustainable, Scalable and Saleable. Ctrack’s solutions are already shaping the future of fleet management globally, and we are proud to walk alongside them as they write the next chapter,” she added.