Sell Side Advisor
Kroll Corporate Finance Advised Shipware, LLC on Its Sale to SIB Fixed Cost Reduction, a Portfolio Company of O2 Investment Partners
On October 29, 2021, Shipware, LLC (“Shipware” or the “Company”) was acquired by SIB Fixed Cost Reduction (SIB), a portfolio company of O2 Investment Partners (O2).
The Industrials and Technology investment banking teams of Kroll Corporate Finance served as the exclusive financial advisor to Shipware in connection with the transaction.
Founded by Rob Martinez and Trevor Outman, Shipware provides contract optimization services (forward-looking) and automated invoice audit capabilities (backward-looking) to reduce small parcel and LTL shipping costs as well as spend management reporting tools and payment solutions. The Company serves 600+ customers across a wide range of end markets. McDermott Will & Emery served as legal counsel to Shipware.
About SIB Fixed Cost Reduction
SIB is a leader in fixed cost reduction services providing invoice analysis, vendor management and cost monitoring for customers across a variety of expense categories, including telecom, utilities, waste management, shipping and logistics. The company earns contingent fees based on the savings found for clients. SIB is headquartered in Charleston, SC.
About O2 Investment Partners
O2 Investment Partners is a Midwestern-based private equity firm that seeks to acquire majority interests in lower middle-market B2B services, technology and select niche industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view towards partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management. Honigman LLP served as legal counsel to SIB and O2 Investment Partners.
Mergers and Acquisitions (M&A) Advisory
Kroll’s investment banking practice has extensive experience in M&A deal strategy and structuring, capital raising, transaction advisory services and financial sponsor coverage. Duff & Phelps acquired Kroll in 2018 and unified under the Kroll brand in 2020.
Transaction Advisory Services
Kroll’s Transaction Advisory Services platform offers corporate and financial investors with deep accounting and technical expertise, commercial knowledge, industry insight and seamless analytical services throughout the deal continuum. Duff & Phelps acquired Kroll in 2018 and unified under the Kroll brand in 2020.