Cargotec sells Navis

Navis to be acquired by leading technology investment firm Accel-KKR

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Navis, a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain, announced that Accel-KKR, a Silicon Valley-based technology-focused investment firm, has entered into an agreement to acquire Navis from Cargotec.

The transaction is subject to normal regulatory approvals and consultation with works councils in the relevant jurisdictions.

Navis is recognized as a global leader in providing mission-critical software solutions and services to terminal, vessel and carrier operators, as well as ground transportation, and will play an important role in the future in delivering best-in-class technology and innovation to keep global cargo flowing.

“We are delighted to welcome the entire Navis team to Accel-KKR’s portfolio of market-leading software companies,” said Park Durrett, CEO of Accel-KKR. “In today’s world, the movement of goods for a wide range of shippers and operators has increased exponentially in volume, speed and complexity, amplifying the need for powerful workflow optimization and total visibility into every corner of supply chains. Navis will extend Accel-KKR’s focus on investing in solutions that can lead to a true end-to-end execution and visibility platform that shippers and operators have been seeking.”

Under Cargotec’s ownership and investment, Navis established a leading position in the market for terminal operating systems and made a series of strategic acquisitions that strengthened Navis’ presence in enterprise software for global logistics providers.

“Navis is looking forward to moving into the next phase of our growth with Accel-KKR, a technology-focused investment firm that brings a wealth of enterprise software expertise, a global network and resources,” said Benoit de la Tour, President and CEO of Navis. “We are also grateful for the strategic support and strong partnership Cargotec has provided during its ownership.”

Citi is acting as financial advisor and Reinhart Boerner Van Deuren s.c. is acting as legal advisor to Cargotec.

About Navis, LLC

Navis is a provider of operational technologies and services that enable greater performance and efficiency for the world’s leading freight supply chain organizations.

Navis combines industry best practices with innovative technology and world-class services to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from increased visibility, speed and measurable business results.

Whether it’s tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline their operations.

About Accel-KKR

Accel-KKR is a technology-focused investment firm with more than $10 billion in capital commitments. The firm focuses on software and technology companies, well positioned for revenue and earnings growth.

At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on value creation alongside management by leveraging the significant resources available through Accel-KKR’s network.

Accel-KKR focuses on middle-market companies and offers a broad range of capital solutions including buyout capital, minority growth investments and credit alternatives.

Accel-KKR also invests across a broad range of transaction types, including private company recapitalizations, split carve-outs and going-private transactions. In 2019 and 2020, Inc. included Accel-KKR in “PE 50 – The Best Private Equity Firms for Entrepreneurs,” its annual list of founder-friendly private equity firms. Accel- KKR is headquartered in Menlo Park with offices in Atlanta and London. Visit accel-kkr.com for more information.

About Cargotec Corporation

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday life with its leading cargo handling solutions and services. Cargotec’s business areas, Kalmar, Hiab and MacGregor, are pioneers in their fields. Thanks to their unique position in ports, at sea and on the roads, they optimize global cargo flows and create sustainable customer value. Cargotec has signed the Business Ambition for 1.5°C of the United Nations Global Compact. The company’s 2020 sales amounted to around EUR 3.3 billion and it employs around 11,500 people.

Source Cargotec Corporation

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