Agilitas Private Equity LLP (“Agilitas”), the pan-European mid-market private equity firm, today announces the signing of an agreement to back the buy-out of Saab AB’s Maritime Traffic Management business (“MTM” or the “Company”). MTM is a leading global provider of software solutions for the maritime sector.
Headquartered in Apeldoorn, the Netherlands, MTM is a provider of mission-critical maritime software solutions. MTM has over 30 years’ experience in maritime software and its market leading software solutions are used in some of the world’s largest ports. MTM’s key solutions include the Vessel Traffic Management Systems (VTMS) MaritimeControl and the Coastal Surveillance System (CSS) CoastWatch which are used by governmental agencies such as port authorities or coast guards to monitor vessel traffic as well as to support the safe and secure navigation of vessels in and around ports, coastal lines, and inland waterways.
MTM’s technological capabilities have allowed it to build long-standing customer relationships with public and private customers globally. The Company employs approximately 170 staff across their offices in the Netherlands, Belgium, Canada and Hong Kong.
Commercial marine shipping plays an important role in global trade. Growing regulatory standards, as well as the volume and diversity of vessel traffic, drive the increasing need for reliable software solutions to manage the accrued complexity. MTM’s solutions improve the safety and efficiency of vessels, thereby reducing the risk of accidents and the environmental impact of ships.
Kevin Iermiin, Partner of Agilitas who will be joining the board of MTM following the closing of the transaction, commented: “MTM is a great example of the type of investment we seek at Agilitas. The business benefits from a high degree of defensibility and offers significant transformation potential. Following the carve-out from Saab AB, the business will benefit from being a stand-alone company with a strengthened management team and regained focus on maritime software. We look forward to partnering with the management team in bringing the business to the next level by developing the service offering and expanding the customer base.”
Martin Calderbank, Managing Partner of Agilitas, said: “The commercial marine shipping sector is undergoing a significant digital transformation. We are delighted to partner with MTM and its management team to be a driving force of that step change. MTM’s products have clear benefits for the safety and efficiency of the maritime supply chain and the environment. By accelerating the Company’s growth, we intend to bring those benefits to more customers around the world.”
The closing of the transaction is subject to the successful completion of the carve-out actions and regulatory approvals.
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