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Sep 04, 2023

ShipServ sold to Marcura, backed by Marlin Equity

Silverpeak, the mid-market technology specialist that represents European growth businesses in M&A and financing transactions, acted as the exclusive financial advisor to ShipServ on its international sale to Marcura, backed by Marlin Equity.

ShipServ is the maritime industry’s foremost e-procurement platform, enabling critical OpEx spend for vessels globally. As the largest trading marketplace in the maritime industry, ShipServ plays a pivotal role in spearheading operational efficiency, ensuring trusted supply chains, and fostering sustainable growth.

Silverpeak was engaged by the board and institutional investors, including the technology fund managed by Wellington Partners, due to its deep understanding of the company’s hybrid subscription-led marketplace business model, strategic positioning in the blue economy, and ability to articulate this value to both private equity and strategic acquirers.

Silverpeak provided invaluable support to management and shareholders; refining their business plan and operating model, preparing cohesive investor materials, skilfully negotiating key transaction terms, and expertly guiding shareholders through a competitive process.

Thanks to Silverpeak’s well-established private equity relationships and structured approach, the transaction concluded within a mere four months of engagement and resulted in a full exit for investors. This successful deal not only provided management with a larger platform but also introduced appropriate equity incentives, empowering them to generate even greater value for the future.

Herman Marks, Chairman of ShipServ said, “Silverpeak ran a structured process from inception to completion, resulting in a signed transaction within just four months. The expertise of Silverpeak’s entire team was evident, and we have been impressed by the way they kept us informed throughout the process. We are all very happy with the outcome.”

Henrik Hyldhan, CEO of ShipServ said, “Silverpeak promptly comprehended the unique dynamics of our industry and business model, and they efficiently mobilised as a team to ensure a smooth and competitive transaction process. Their professionalism, work ethic and deep understanding of the digital maritime sector were evident throughout, culminating in a great outcome for management and shareholders.”

Christopher White, Director at Silverpeak leading the process added “ShipServ has firmly established itself as the premier trading marketplace. By aligning with a broader platform, it is now poised to provide a comprehensive solution to the varied needs of maritime stakeholders, propelling innovation throughout the maritime industry. We are delighted to have supported the management and shareholders in this landmark transaction.”