Spectrum advises on the disposal of Impatex Freight Software Limited
Spectrum Corporate Finance Limited has successfully led the disposal of Impatex Freight Software to Descartes Systems Group for £5.1 million.
Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), the global leader in uniting logistics-intensive businesses in commerce, acquired Impatex Freight Software Limited (“Impatex”), a leading provider of electronic customs filing and freight forwarding solutions in the UK.
The European customs compliance market is characterized by a complex framework of member states, each with different regulations, languages, and systems. Transportation carriers, logistics intermediaries and shippers look to technology partners, like Descartes and Impatex, to manage this complex environment. Freight forwarding operations are also faced with similar business and regulatory challenges at a local level. Freight forwarding technology solutions address those local challenges to allow users to operate efficiently and with a high degree of confidence.
Impatex brings more than 200 freight forwarder customers to Descartes’ Global Logistic Network, with the majority of these in the UK. By combining Impatex’s leading UK customs and forwarding solutions with Descartes’ global community of logistics participants and logistics management solutions, customers now have a single trusted partner to help them manage their shipments across the globe. Impatex is headquartered in Cadnam, UK. The all cash purchase price for the acquisition was £5.1 million. Descartes funded the purchase price for this acquisition by drawing on its existing acquisition line of credit.
“We were delighted with the full team approach from Spectrum in helping us prepare the business for sale and taking us through the transaction in a very hands-on style, and maintaining the momentum and interest from Descartes. They have helped us achieve a great deal and kept us all sane in the process!”Peter Day, Shareholder at Impatex Freight Software