eaCross, the leading provider of navigation software for high-speed operations in littoral, coastal and open waters, welcomes Adelis Equity (“Adelis”) as new majority shareholder. SeaCross will join Adelis’ recently established defence technology group and marks the second investment of the group. The company group consists of leading niche software companies, with the joint mission to support the protection of people and societies.
SeaCross, the Swedish provider of navigation software for high-speed operations in littoral, coastal and open waters, enters a partnership with the recently established defence technology group founded by Adelis and its partners. The group will support SeaCross to realise its growth ambitions and back the management team, led by Axel Törneman, to successfully scale its business. SeaCross marks the second investment of the group, after the announcement of the partnership with Bruhn NewTech in July.
SeaCross is a leading provider of navigation software, focused on high-speed marine crafts navigating in littoral, coastal and open waters. The company serves customers across the globe and has a strong position in the defense market. Since its foundation c. 20 years ago, SeaCross has continuously developed its software in close collaboration with its customers. The company has grown strongly in recent years and sees strong interest in its products and services from customers across the globe to increase their marine navigation capabilities.
“We are very excited to join Adelis’ recently established defence technology group. We have a strong belief in that this group can help niche technology and software companies, like ourselves, to grow successfully and to even better support our customers. We really look forward to the partnership together with Bruhn NewTech, Adelis and the other partners in the group”, say CEO Axel Törneman and Chairman Harald Nilsonne, who will both remain shareholders in the company.
Continued commitment to deliver the best navigation software for high-speed crafts
In the partnership with Adelis and the defence technology group, SeaCross will continue to develop and invest in its software. The company remains committed to deliver on the end users’ high demand for a navigation software they can rely on, when navigating at high speed in the toughest condition possible.
“We are impressed by what Axel Törneman, Harald Nilsonne and their team have developed over the years. SeaCross plays in its own league when it comes to high-speed crafts navigation in littoral waters. We are pleased to welcome them to the defence technology group and look forward to the partnership ahead”, say Hampus Nestius and Joel Russ at Adelis.
Establishment of a defense technology and software group
SeaCross marks the second investment in the defense technology group established by Adelis and its partners. The group aspires to support Western and democratic countries to protect people and societies, as well as to support small- to mid-sized defense technology companies to scale and develop. The acquisition of SeaCross follows shortly after the first acquisition, of Bruhn NewTech, which was announced in July.
“We are very excited to get this group going and look forward to welcoming many more leading niche software and technology companies focused on the defense sector in the years ahead”, say Hampus Nestius and Joel Russ at Adelis.
The transaction closed in August, after having received applicable regulatory approvals. Financial terms of the transaction were not disclosed.
For further information:
Axel Törneman, SeaCross Marine AB
Hampus Nestius, Adelis Equity Partners
Joel Russ, Adelis Equity Partners
About SeaCross Marine
Born in Scandinavia, the SeaCross system was developed based on experience and knowledge derived from operating high-speed crafts in this exceptionally demanding navigational environment. Since the first product launch in 2006, SeaCross has evolved into a platform with unique functionality specifically designed for the most demanding environments and end users. This evolution continues through extensive collaboration with SeaCross customers – especially those whose needs exceed what the recreational market can offer. For more information, please visit https://www.seacross.se.
About Adelis Equity Partners
Adelis is a growth partner for well-positioned companies in the Nordic and DACH regions. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 42 platform investments and more than 230 add-on acquisitions. Adelis manages approximately €3.0 billion in capital. For more information, please visit www.adelisequity.com.
