Swiss-based engine turbocharging company Accelleron has sealed a deal to acquire True North Marine (TNM), a Canadian firm specializing in digital weather routing and voyage optimization.
Accelleron will take over the Montreal-based firm TNM and retain all of its 50 employees. The aim is to expand Accelleron’s digital customer base to 3300 ships.
The parties have agreed not to disclose any information on the purchase price. The only financial information Accelleron has revealed is that the acquisition is funded by existing cash.
The deal is expected to close in the next weeks, subject to customary closing conditions.
Established in 2013, TNM has a global customer base of around 800 ships and regional representation in the UK, India, China, and Greece.
Accelleron said TNM’s offering would add to the company’s digital insights for turbochargers, engines, emissions, and hulls and propellers, to address key aspects of vessel performance. Each of the digital modules will interface with existing ship automation systems.
In addition, a shared platform will allow owners and operators to collaborate on voyage planning and decarbonization goals, while meeting commercial targets.
“Digitalization and data are fundamental to transformation of the global marine industry,” said Cristian Corotto, president of Accelleron’s digital division.
“The new synergies from this acquisition will help customers optimize their global fleet planning, save fuel and money, reduce emissions, and ensure compliance with evolving international regulations.”
