Logmaster Trucking Software Provider Secures Investment from Marbanc International
US-based private equity firm Marbanc International Corporation has taken a stake in Australian trucking software provider Logmaster in a deal that will enable the company to roll out its digitised driver logbook solution to more than 5 million drivers globally.
Logmaster presently delivers driver fatigue tracking solutions to more than 2,000 truck drivers throughout Australia via a network of more than fifty channel partners. The Sydney-based company was founded in 2019 by former Operations Managers of ride-share company OLA, Josh Saunders, and his colleague Stewart Flecknoe-Brown.
Logmaster is now the second largest provider of heavy vehicle compliance software and Electronic Work Diaries (EWD, or ELD in the US) in the Australian market and has already built a similar channel partner network in New Zealand which the company says it will be licensed to expand into from January 2024.
Commenting on the investment Marbanc International’s Chairman Michael Go said “The Logmaster investment aligns with Marbanc’s current focus on software companies with strong recurring income streams. Logmaster has a proven track record in Australia and we look forward to helping facilitate their international expansion. We are very excited by the growth potential particularly as regulation of driver fatigue increases in trucking and other related transport industries.”
Logmaster’s recurring revenues have been consistently growing month-on-month and its Managing Director, Josh Saunders, says the company has already turned down a number of buyout offers. “Aligning ourselves with an international investment group like Marbanc makes sense for us given our expansion plans. We are delighted to have their backing and look forward to continuing to grow our market share locally and abroad.”
Last financial year Marbanc International opened an Australian subsidiary, Income Direct, to expand the group’s investment capabilities in the Asia-Pacific region. Income Direct’s Executive Chairman Gerard Sivaprasad said the Logmaster investment is a good example of the high quality investment opportunities available in the region.
Learn more about Logmaster at www.logmaster.com.au