Pamlico Capital and the management team of Veson Nautical LLC has announced that Pamlico has completed a growth investment in the company. Co-founder and CEO John Veson, along with COO Sean Riley and other management team members, will maintain significant ownership in Veson and will continue to manage the growth of the company with support from Pamlico. Further transaction details have not been disclosed.
“We believe Veson is well positioned for future growth by continuing to provide best-in-class software solutions to maritime organisations around the world,” said John Veson, co-founder and CEO. “Our team is proud of our success to date and is excited to bring in Pamlico as our first institutional equity partner. We plan to leverage their extensive experience investing in the software sector and successful history of supporting founder-owned businesses to accelerate our company’s growth and continue our core mission of propelling maritime commerce.”
“Pamlico seeks to invest in leading vertically-focused software companies, and Veson is no exception,” said Walker Simmons, Pamlico Partner. “John and the Veson team have built the leading commercial maritime operations software platform for a loyal base of clients, for whom they are solving increasingly complicated freight trading problems.” Pamlico Partner Eric Wilkins added, “Our investment will allow Veson to accelerate core product innovation, as well as to expand into other closely related adjacencies. The shipping market is a complicated ecosystem of charterers, ship owners, operators, traders, and freight brokers, and Veson is uniquely positioned to transform the constant flow of maritime data into actionable insights.” Veson Nautical is the fourteenth investment in Pamlico Capital III, a fund with US$650 million of committed capital.
Veson was represented by Harris Williams & Co. (financial advisor) and Cooley LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/02022017/pamlico-capital-announces-growth-investment-in-veson-nautical/