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ChartCo branches out from Kelvin Hughes following investment

ChartCo reports that it has secured what it describes as “significant” new investment from Equistone Partners Europe to fund the continued growth of its ship-board data platform PassageManager, a deal which will see the company leave the Kelvin Hughes Group as a consequence.

{mprestriction ids="1,2"}ChartCo currently provides data to approximately 12,000 commercial vessels globally for navigation, voyage planning and other operations. The PassageManager software system is used on 7,000 of these ships.

“ChartCo has achieved significant growth in recent years as the market leader in commercial marine navigation and compliance solutions. We are immensely proud of what we have achieved and are tremendously excited about having Equistone’s support to further develop the business to realise its full potential,” said Martin Taylor, managing director of ChartCo.

“Commercial shipping is currently going through considerable change and we are working with our customers to increase their efficiency at a time when they are being mandated to use digital navigation.”

“The technical and commercial barriers to satellite communication are significantly reducing and this allows ChartCo to provide innovative services which reduce costs, increase efficiency and simplify compliance with ever growing maritime regulations. This investment from Equistone will really allow us to push the barriers of change.”{/mprestriction}

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