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CARGOTEC Corporation has signed an agreement to sell its Navis business to Accel-KKR, a Silicon Valley-based leading technology-focused investment firm for an enterprise value of €380m.

The Finnish company that makes cargo-handling machinery for ships, ports, terminals and local distribution expects the deal will have around €230m positive impact on its operating profit in 2021

Navis is a provider of software solutions and services to port and terminal operators, ocean carriers, shipowners and inland logistics operators, which recorded sales of €107m in 2020.

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The transaction is subject to normal regulatory approvals and works council consultation in relevant jurisdictions.

Mika Vehviläinen, Cargotec CEO, said, “We are pleased to have reached this agreement that delivers a great home for Navis and maximises value for our stakeholders.

“The transaction will secure the best possible growth and value creation for the next development phase for Navis.”

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