M&A team advises New York's National Cargo Bureau on Exis tech buy-out
Fieldfisher's M&A team has acted for National Cargo Bureau Inc. (NCB) on its purchase of UK technology firm, Exis (Group) Limited. NCB is a New York City-based organisation which assists the industry in regards to regulations governing the transportation of goods by sea on behalf of the US Coast Guard.
The multi-million pound deal, which closed in late April, saw NCB acquire the entire issued share capital of Exis, which is a leading supplier of IT systems for the management of dangerous seaborne cargoes.
Dangerous or hazardous cargoes typically include flammable substances, such as oils, and toxic materials such as dyes which require special handling.
Exis has more than 30 years' experience in supporting major shipping lines, ferry operators, ports and terminals, freight forwarders, government and regulatory organisations in handling and transporting such cargoes worldwide. Its customers include P&O Ferries, DHL, Stena Line and the British Antarctic Survey.
NCB, which is a not-for-profit organisation, has been working with Exis for over a decade and the formal partnership between the two companies is intended to foster the development of more advanced systems for handlers of dangerous cargoes.
Fieldfisher's team was led by Corporate Partner, Neil Palmer, supported by Associate, Elise Nowak and Of Counsel, Andrew Loan.