Peterborough company announces jobs creation following sale to new owners

The vehicle technology firm, based in the Allia Future Business Centre, in London Road, has begun a recruitment campaign to add to its current 50 employees.

The move comes in the wake of the sale of ABAX by owner Norvestor Equity to Investcorp, a provider and manager of alternative investment products, for about £165 million.

The change of ownership will not affect ABAX’s existing stadium naming rights partnership with Peterborough United.

Hazem Ben-Gacem, Investcorp’s head of corporate investment in Europe, said the company planned to support ABAX’s international growth.

Chris Miller, ABAX UK chief executive, said: “Investcorp has recognised the spirited culture ABAX Group has created within its business and employee workforce.

“It’s this culture and our market leading telematics technology that has enabled ABAX Group to grow the way it has in the UK, Europe and China in recent years.

Mr Miller added: “We will now be looking to increase our workforce in Peterborough by around 30 people.

“This will support the success of the existing product line up and new product introductions set for release in the autumn.”

ABAX plans to host recruitment days for the positions of in-house sales executives, partnership managers, field sales managers and customer account managers. Candidates can get details from ABAX UK office manager Janice Meakin at [email protected] Related:

New deal for Peterborough-based vehicle technology firm