The company was established in 2004 by Levent Aydogan and Adil Masaraciolgu, who will continue to run the business with the existing management.
It has around 110 thousand installed units and serves more than 8,000 different customers.
Murat Erkurt, founding partner of Mediterra, said, “Mobiliz has a very successful growth track record, a well-diversified customer base and an ambitious management team who have focused on providing the best possible service to their customers.
“In Turkey, the return on investment for customers purchasing such a fleet telematics service is very attractive as Turkey has the highest fuel prices globally and also has one of the highest vehicle costs.
“Even a slight improvement in fuel consumption makes the purchase of such a service worthwhile.
“We have a good chemistry with the founding shareholders and believe that with the support of Mediterra Mobiliz will be able to become the dominant player in Turkey.”
Mediterra held its second closing for its inaugual fund in September 2012 on €135m and is targeting €165m by year-end.
Limited partners in the fund include EBRD, IFC, EIF and DEG.
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