Jaama, a fleet management fintech, has announced the acquisition of the business by a group of investors led by Andrew Holgate for an undisclosed sum as Jaama celebrates its 19th anniversary.

Andrew Holgate takes over as chief executive after his investment group acquired Jaama. CEO Jason Francis who originally set up Jaama in 2004 will leave the business after a six-month handover and will remain an investor in the company. Holgate is joined by Paul Waterhouse who enters as CFO.

Martin Evans will remain as MD.

Evans and his current executive team of Michelle Morgan, Stuart Mills and James Thresher will continue to run Jaama, which currently employs around 120 people.

Evans said: “This is an exciting time for Jaama, its colleagues and customers. Andrew and his investment team have a passion for growing medium-sized businesses that will help us take Jaama to the next level.

“I’m really pleased that Andrew and his investment group have acquired the business rather than being taken over by a competitor or a private equity investor. We will continue with our customer-focused ethos supported by ongoing investment in our class-leading Key2 platform.”

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