Transaction
Cargo Solutions Acquisition
A management team has acquired ESIS International Inc from leading global insurance company, ACE INA International Holdings Limited.
The Cargo Solutions management team approached Meta Corporate Finance to assist them with the finance raising for the launch of their global cargo risk management services across the internet. Mark Ledger-Beadell, the managing director of Meta Corporate Finance, immediately identified the criteria that made the idea attractive to investors: the clear business to business service delivery so the concept would meet an existing business demand; the team were experts in their field; and the concept had the opportunity of replication to other insurance and risk management areas.
However, it was clear that the acquisition of ESIS from ACE would give Cargo Solutions the specialist knowledge of cargo surveyors worldwide ensuring not only the in-depth content of the web-site but also creating the network on the ground to provide the specific solutions to individual customer’s needs.
Bob Volante, who leads the Cargo Solutions management team said, “The acquisition of ESIS is the first step in Cargo Solutions’ plan to formulate an international cargo surveying service across Europe and the globe. The intention is to make use of the internet to provide access for the worldwide cargo community not only to industry data and real time information but also to the high level expertise and advice of Cargo Solutions’ personnel in any relevant state.”
Steve Schleisman, chief executive and president of ACE Europe said, “In reviewing our business strategy and business focus, it became apparent that the ESIS International operation would not form part of our core business going forward. Having explored various options we took the decision to sell the operation as a whole unit to Cargo Solutions.”
Steve continued, “Although ESIS International will no longer form part of the ACE family, there will remain a continuing and on-going business relationship. Client service is paramount to us and we are delighted that Bob Volante, who was part of the CIGNA and then ACE organisation for many years, has such a key role within Cargo Solutions. Bob is well aware of the standards that we and our clients expect and we have every confidence that the transaction will be seamless.”
Client:
Cargo Solutions
Service:
- Buy Side
Region:
International
Sector:
- Transport & logistics
NEED MORE INFORMATION?
Get in touch with our team today
Interested in our services or have any questions?