Transporeon connects logistics companies, suppliers, shippers and retailers.
(Photo: dpa)
Munich The Ulm logistics software company Transporeon is sold to the USA for 1.88 billion euros. The industrial technology company Trimble takes over the company from the European financial investor Hg, as those involved announced late Monday evening. London-based Hg had bought Transporeon from rival TPG just three years ago, according to media reports for a good 700 million euros, and has since expanded with acquisitions.
Founded in 2000, the Ulm-based company with around 1400 employees connects logistics companies, suppliers, shippers and retailers on a cloud platform. According to Transporeon, 145,000 forwarders are now connected to the system, primarily in Europe. The software would be used to handle 25 million transports worth 48 billion euros a year. “Transporeon is a leading platform for connected supply chain infrastructure,” said Trimble CEO Rob Painter. “In addition, the company has a large target market and is growing profitably.” Transporeon boss Stephan Sieber also wants to establish the platform in North America under the new owner.
According to Trimble, Transporeon expects sales of 190 million euros for 2023, which would be an increase of 25 percent compared to the current year. The operating return on sales should then be 30 percent, which would correspond to an operating result (adjusted Ebitda) of more than 60 million euros.
The Londoner Hg had commissioned the investment bank Goldman Sachs with the sale. With the resale, the financial investor wanted to benefit from the increased valuations in the logistics industry as a result of the e-commerce boom. Because of its central location, Germany is the largest logistics market in Europe – larger than Great Britain and France together. Other financial investors were also interested in Transporeon, but Trimble was able to meet Hg’s price expectations.
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Trimble shares fell 7 percent in after-hours trading on the Nasdaq.
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