Posted on August 21, 2024
Accelleron today announced that it has entered into an agreement to acquire True North Marine (TNM), established in 2013 and headquartered in Montreal, Canada.
TNM provides weather routing guidance and voyage optimization, including consulting services from pre-voyage estimates to post-voyage claims, ensuring safe navigation and cost-efficient execution of voyages. TNM are experts in assessing voyage performance according to charter party agreements on fuel consumption, emissions, and other operational criteria. TNM has grown rapidly in the past 10 years, and today has 50 employees and regional representation in the UK, India, China, and Greece. The company has a global customer base of around 800 ships, and in 2023, the firm generated revenues in the low single-digit million Canadian dollars.
TNM’s offering complements Accelleron’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.
Accelleron will take over TNM in its entirety and retain all employees. Both parties have agreed not to disclose any information on the purchase price.
The transaction is expected to close in the next weeks, subject to customary closing conditions. The acquisition is funded by existing cash.
To learn more about Accelleron’s digital solutions, visit: Digital solutions (accelleron-industries.com)
