ECI sells ChartCo out of Kelvin Hughes Group
ECI has announced the sale of ChartCo Limited, a leading supplier of digital navigation and voyage compliance services to the marine industry, and previously part of ECI-backed Kelvin Hughes Group for £55m.
ChartCo is the world's principal provider of navigational data, nautical charts, marine technical publications, compliance data and digital services. ChartCo began supplying charts for the Royal Navy over 250 years ago and today provides the leading navigational software platform, PassageManager, to the commercial marine industry. The Company provides data and services to more than 12,000 vessels globally, helping them to safely plan routes, digitally navigate and comply with local and international regulations. ChartCo is headquartered in Enfield, London, with further offices in UK, France, Netherlands and Singapore.
Since ECI invested in Kelvin Hughes, ChartCo has been transformed through investment in people, technology and niche acquisitions. Highlights include:
- 21% increase in vessels served over the past two years
- Recent acquisition and integration of leading maritime regulatory data provider Regs4Ships (in September 2014)
- Development of the leading digital navigation platform, PassageManager
Lewis Bantin, Partner at ECI, commented: “It has been a real pleasure supporting Martin and his team at ChartCo, working with them to grow and develop the business. The team have built a platform that delivers digital services and products to shipping fleets in every corner of the world; a business with real global reach. This successful investment adds to our track record in helping companies maximise growth by developing their own tech platforms. We wish Martin and the team every success as they continue to build on their achievements and further strengthen their role as the leading navigational data business for the global shipping industry.”
Martin Taylor, Managing Director at ChartCo, added: “With ECI’s support, ChartCo has achieved significant growth in recent years and transformed into the market leader in commercial marine navigation. We are immensely proud of what we have achieved and we are excited about working with Equistone to further develop the business and realise its full potential.”