Silverpeak, the technology investment bank, acted as the exclusive financial advisor to Blackbay Ltd, a leading provider of mobility enabled software for the transport and logistics industry, on its sale to Francisco Partners owned BluJay Solutions, a leading provider of supply chain software and services previously known as Kewill.
Blackbay, headquartered in the UK with offices in the United States, Australia and New Zealand, will fully integrate with the global BluJay Solutions team. Its solutions deliver real-time track-and-trace, dispatching, on-the-road processes routing and scheduling capabilities to enable operators, drivers and other mobile workers to optimize the delivery process, streamline operations, improve compliance, increase revenue and enhance the overall customer experience.
Silverpeak worked with the company and Albion Ventures, the institutional shareholder, as lead adviser to map the marketplace, identify and contact potential buyers and negotiate a transaction through to final completion.
Nigel Doust, CEO of Blackbay said, “The Silverpeak team were able to assist and guide us seamlessly throughout the transaction process. Silverpeak’s in-depth knowledge of the technology market and their ability to deal with the complexity of the transaction proved invaluable to yield a strong result for Blackbay and its shareholders.”
Emil Gigov, Partner at Albion Ventures, said “Silverpeak led the process in a professional and proactive way. Paddy MccGwire’s ability to navigate complex situations and manage difficult negotiations helped achieve a positive result for the company and for the investors. Silverpeak were totally committed to the successful conclusion of the transaction. I look forward to working with them again.”
Paddy MccGwire, the Managing Partner at Silverpeak leading the process added “Blackbay had transformed itself into a SaaS business with a leading global product. BluJay Solutions was the player where there was the greatest strategic and cultural fit. Together they can fully address the worldwide opportunity as logistic providers adopt current best practice.”