ECI Partners (“ECI”) today announces that it has sold its investment in ChartCo Limited, a supplier of digital navigation and voyage compliance services to the marine industry, to Equistone Partners Europe Limited (“Equistone”) in a transaction valuing the company at £55 million.
The Company was previously part of ECI-backed Kelvin Hughes Group. 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.
Liberty Corporate Finance provided advice to the management team on the transaction.
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. In the financial year 2015, ChartCo reported revenues of over £40m.