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.
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.”