Accel-KKR LLC signed an agreement to acquire Navis, LLC from Cargotec Corporation (HLSE:CGCBV) for an enterprise value of €380 million on March 26, 2021. In 2020 Navis recorded sales of €107 million. The final purchase price will be determined based on customary working capital and debt-like adjustments at closing. Transaction is subject to normal regulatory approvals and works council consultation in relevant jurisdictions. As of February 23, 2021, the transaction is expected to closed in first half of 2021. The transaction is expected to close by the end of Q3 2021. Citi is serving as financial advisor and Reinhart Boerner Van Deuren s.c. is serving as legal counsel to Cargotec. Dittmar & Indrenius Attorneys Ltd. acted as legal advisor to Cargotec Corporation. John O'Connor of CMS von Erlach Poncet acted as legal advisor to Cargotec. Charles Irvin of BDO USA, LLP provided due diligence to Accel-KKR LLC.

Accel-KKR LLC completed the acquisition of Navis, LLC from Cargotec Corporation (HLSE:CGCBV) on July 1, 2021. Accel-KKR has paid €350 million to Cargotec and obtained control of Navis' business. The remaining €30 million will be paid to Cargotec by the end of 2021. The transition of Navis operations and employees to Accel-KKR takes place in phases before the end of 2021, subject to local legal requirements. Duffy Lorenz and Daniel DeDeo of Baker & McKenzie LLP acted as legal advisor to Accel-KKR LLC.