Silicon Valley Bank increases Senior Debt Facilities to support Kewill's acquisition of The IBM Sterling Transportation Management System (TMS)
Company news | November 3, 2014
LONDON — 3 November 2014- Silicon Valley Bank, the bank of the global innovation economy, today announced that it has increased its senior debt facilities to Kewill, a leading provider of innovative software for supply chain execution. The facilities have supported Kewill's acquisition of the IBM® Sterling Transportation Management System (TMS), a SaaS-based multimodal transportation management system. The IBM Sterling TMS will be rebranded as Kewill Transport and will become part of the Kewill MOVE® multimodal transportation management platform, creating the market leading multimodal TMS.
Prior to this deal, Silicon Valley Bank helped finance Kewill's acquisition of Four Soft, a provider of integrated software solutions for the freight and logistics industries, in October 2013. Silicon Valley Bank also supported Francisco Partners in its original take-private acquisition of Kewill in 2012, continuing the Bank's long standing relationship with the private equity firm.
Paul Jackson, Managing Director of Corporate Banking at Silicon Valley Bank in the UK, said: "This is a very exciting time for Kewill. This acquisition further strengthens Kewill's position in the multimodal transportation management space and is another important milestone in the company's continuing growth story."
Bob Farrell, CEO of Kewill, said: "We are pleased to be working with a bank that truly understands our business and the innovation sector as a whole. With the additional support of Silicon Valley Bank, we are looking forward to the continued growth of our business and enhancing the value we deliver to our customers, partners, employees, and shareholders."
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, venture capital, private equity and premium wine businesses. SVB Financial Group provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB) www.svb.com/uk
Silicon Valley Bank is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a subsidiary of SVB Financial Group, a Delaware corporation and is an affiliate of SVB Financial Group UK Limited. SVB Financial Group UK Ltd is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. 5572575 and is authorised and regulated by the Financial Conduct Authority, with reference number 446159. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC.
About Francisco Partners
Francisco Partners, with approximately $7 billion of capital raised to date, is one of the world's largest technology-focused private equity investment firms. The firm, headquartered in San Francisco, Calif., was founded to provide transformational capital to technology companies facing strategic, technological and operational inflection points. For more information on Francisco Partners, go to www.franciscopartners.com.
Kewill is a leading provider of software solutions that accelerate global trade and logistics. Its products enable Logistics Service Providers, Freight Forwarders and Shippers to move goods domestically and across international and global borders rapidly, cost effectively and in compliance with customs and import / export regulations. Kewill's software enables customers to accelerate their customs and forwarding, transportation & logistics, and eCommerce & B2B integration and thus drive revenue growth and measurable cost savings.
Established in 1972, Kewill has delivered global trade and logistics solutions to some of the most sophisticated companies in the world. Over 7,000 businesses use Kewill solutions including Ingersoll Rand, DHL, UPS, TNT, Hankyu Hanshin, Scott's & Co., Hitachi, WaverleyTBS, Mothercare, Black & Decker and Damco.
Silicon Valley Bank – UK Branch
T: +44 (0)20 7367 7839