NAVTOR acquires vessel analytics and performance specialist Tres Solutions
NAVTOR looks to extend its success in e-Navigation into leadership in vessel analytics and performance optimisation with the acquisition of Tres Solutions, according to the company's release.
The purchase follows on the heels of NAVTOR’s launch of NavFleet, a breakthrough fleet management application delivering real-time operational insight, performance optimisation and enhanced business decision making. Tres Solutions’ core expertise and digital products will now integrate into NAVTOR’s offering, creating a unified platform to help shipowners and operators enhance operations and achieve competitive advantage.
NAVTOR is renowned as a global leader in e-Navigation, currently delivering a suite of innovative products to approximately 7000 individual vessels and customers in over 60 countries. In August 2020, Accel-KKR, a Silicon Valley headquartered operation with over $10 billion in capital commitments, took a majority stake in NAVTOR, giving the team the financial backing to take business development to the next level.
Tres Solutions was founded in Houston, Texas in 2016, and has rapidly expanded to offices in Europe and Asia. The company’s core software and services platform, Tres Vessel Analytics, helps shipping companies enhance environmental efficiency, minimize fuel consumption and reduce operating expenses. Its proven industry solution has generated up to 20x ROI and, to date, has helped key customers save over 45,000 MT of fuel (141,300 MT CO2).
Performance optimisation is a key feature of NavFleet, with the ability to benchmark, troubleshoot, refine and share best practices across fleets, while solving individual vessel issues. In addition, the application enables easier compliance, alongside simplified reporting and administration, with the ability to automate key reports. Its real-time monitoring capabilities will also help office-based teams check vessel KPIs and passage plan progress, making it easier for owners to adhere to charter party agreements and avoid performance claims. NavFleet launched to the market on 1 February after extensive development and testing with leading international shipowners.
DLA Piper LLP and Brodies LLP provided legal advisory for NAVTOR on the transaction; McGuireWoods LLP served as legal advisors for Tres Solutions.
About NAVTOR:
NAVTOR has established itself is a world leader in e-navigation since launching in 2011, providing innovative e-Navigation solutions, and as a total supplier of navigational products and services for the maritime sector. The company strives to make life easier for navigators, and safer and more efficient for shipowners, ship managers and operators.
In 2012 the firm released the world’s first type approved Pay As You Sail ENC service, and followed in 2014 with the launch of NavStation, the world’s first digital chart table. The company has grown quickly and established a network of subsidiaries and distributors worldwide, spanning Norway, Singapore, Japan, Sweden, Germany, Russia, the United States, and the United Kingdom.
About Tres Solutions:
Tres Solutions is a leading maritime software and analytics company, providing a comprehensive suite of digital vessel performance solutions, focused on helping clients save money, reduce emissions and improve operations.
The company serves its global customer base from major shipping hubs around the world, including Houston (HQ), Copenhagen, Hamburg and Mumbai. Its core Tres Vessel Analytics (TVA) platform is among the fastest growing performance management and optimisation systems in the market and is deployed on more than 300 vessels worldwide.
