ICFG USA advised Q88 on its sale to Veson Nautical
|Mergers & Acquisitions
Westbury Group LLC (“Westbury”) announced today that its client, Q88 LLC (“Q88”), an information management and software platform for the maritime transportation industry, has been acquired by Veson Nautical (“Veson”). a leading provider in maritime freight software worldwide. The acquisition unites two of the maritime technology sector’s most respected brands and will further Veson’s commitment to keeping ahead of its clients’ evolving needs, and its vision to be the standard platform that propels maritime commerce. The transaction closed on April 25. Westbury served as Q88’s exclusive financial advisor. Jonathan Rubin and Ron Hodge led the investment banking team for Westbury.
Founded in 2001, Q88 has been building digital solutions for the marine freight industry for 20 years, simplifying the complexities of global maritime transportation. The company delivers a suite of software and data products designed to streamline operational workflows, aggregate a single source of truth for data, improve accuracy and the relevance of data, accelerate communication and improve safety outcomes between multiple maritime shipping counterparties. Building on Q88’s high regard in the tanker space, it has invested significantly in bringing innovative solutions to the dry bulk space, as well as other sectors within the shipping industry.
In the short term, the deal will benefit customers of both organizations, and over time will help to transform and simplify the process of maritime commerce for the whole industry.
Founded in 2001, Q88 LLC is the leading maritime SaaS technology provider and a preeminent voice shaping the industry. Q88 products and services are synonymous with simplifying the complexities of global maritime transportation and giving organizations of all types a competitive edge in a demanding environment. Q88’s partnership with the world’s leading ship owners, charterers, ship managers, agents, and brokers has provided the company insight into how to build solutions for some of the industry’s most pressing issues.
Founded to transform the way the maritime world makes decisions, Veson is a a leader in developing, implementing, and supporting the solutions that propel global maritime commerce. Driven by a commitment to continual innovation, a spirit of collaboration, and an enduring focus on client success, Veson is a trusted partner to maritime operations as they navigate evolving business realities and new possibilities in a digital age.
|Technology, Media & CommsTransports & Logistics
|New York Metro
ICFG USA, the Westbury Group, advised the leading SaaS platform for the maritime transportation industry company, Q88, on its acquisition by Veson Nautical. Two leading SaaS maritime industry firms join forces. Westbury Group, the leading investment bank for entrepreneurs and family-owned businesses, facilitated the transaction.