German cloud-based logistics platform Transporeon has been acquired by competitor Trimble in a transaction providing the former with an enterprise value of €1.88 billion. The transaction is expected to close in the first half of 2023, subject to customary closing conditions including regulatory approvals.
Ulm, Germany-based Transporeon has been in business since 2000, and provides a cloud-based logistics and transport management platform, enabling automation, real-time insights, and collaboration on, according to the company, €48 billion of annual freight.
The company’s SaaS platform provides an end-to-end solution including tendering, dispatching, scheduling, real tracking, and communication services between the approximately 1,400 enterprises looking to move freight across some 145,000 carriers.
The company was acquired by Hg Capital in 2019, and since this time helped to improve Tranporeon’s bottom line through strong growth and continued margin expansions.
“The past three years has significantly accelerated Transporeon forward in our mission to bring transportation in sync with the world. Innovation in our products and an expansion of the business has meant we have built a remarkable platform in a rapidly growing sector, with solutions that are in high demand globally,” commented Transporen CEO Stephan Sieber. “This would not have been possible without the software expertise delivered by Hg. The management team thank everyone at Hg and Transporeon who have worked hard together to put us in this very advantageous position.”
The sell-off of Transporeon marks the London-based private equity firm’s fourth in the last 12 months, having previously sold Medifox to ResMed, Allocate Software to RL Datix, and itm8 which merged with AddPro, all contributing to over $7 billion collectively returned to clients in the last 12 months.
Adding to the excitement, the firm announced that it had raised a staggering $11 billion fund specifically targeting buyout activities. If there’s one thing that’s certain, 2023 is ramping up to be a busy year over at Hg Capital.