Castik Capital, a European private equity investment firm, acquired the transport services unit Wolters Kluwer Transport Services, Brussels, Belgium.
Transport Services provides “on-demand” transport management software and services to transport and logistics professionals under the Transwide, TAS-TMS, Teleroute, Bursa and 123 Cargo brands. And, its 100,000-plus user community is electronically connected to manage critical transport processes.
Together, Transwide, Teleroute, 123cargo/Bursa and inet logistics, which Castik Capital acquired in May, will form a broader global logistics software group with a network of close to 60,000 connected transport companies.
Both companies will continue to operate under their own brands, and keep their current product offering.
“The Transport Services businesses and inet logistics are great companies that both enjoy strong growth momentum. Together, they will be even better placed to benefit from global opportunities and better serve their loyal customers,” says Michael Phillips, partner at Castik Capital. “We continue to see strong growth in the market for logistics software, as the value provided to their customers is immense and there is momentum for further digitalization of the logistics operations. Castik is committed to invest in the long-term organic growth of the two businesses while continuing to look out for value enhancing add-on targets in this field.”
“We are very excited about our two new partners, Castik Capital and inet logistics, as we can jointly continue to invest in the growth of the company while providing our customers an even more global and sophisticated solution,” says Fabrice Maquignon, chief executive officer of Transport Services. “We plan to create one of the leading global software logistics groups and provide the best solution to our customers, and this deal sets us on that path.”