Fargo Systems, a leading Transport Management System “TMS” SaaS software business has been acquired by August Equity and its management team. Additionally, August will provide funding to enable the business to continue to scale internationally and expand its service lines for customers.
Based in both Exeter (product development/innovation teams) and Ipswich (support/implementation teams), Fargo Systems is the market leader in TMS software for containerised cargo. It has long standing relationships with a number of global logistics businesses and its software is used across 22 countries. It provides mission critical cloud software which enables logistics customers to plan, execute and optimise the movement of goods providing tangible benefits for its customers in terms of automation, cost, ESG and ensuring compliance with regulation. Steve Collins, who joined the business in 2010, will continue to lead Fargo.
The transaction marks the second investment from August Equity Partners VI, a 2024 vintage fund. August will invest in the continued organic growth of the business supplemented with targeted M&A into adjacent service lines and geographies. Fargo represents a strong adjacency to previous August investments in mission critical compliance-driven software businesses.
Steve Collins, Fargo System’s Managing Director, commented “The Management team and I are excited to be partnering with August Equity to support us on the next phase of growth for Fargo. Fargo’s flagship product “TOPS” is seen as the industry standard for containerised movements in the UK and we already have a substantial international presence. With August’s help we intend to continue to deepen our geographic footprint and add additional functionality for our customers. We are delighted to have found a supportive partner with the vision, expertise and passion to support us on this exciting journey.”
Fargo Systems were advised by Isca Ventures (Corporate Finance), EY (Corporate Finance), Michelmores (legal) and CIL Management Consultants (commercial). August Equity were advised by Travers Smith (legal), PwC (Financial and Tax), Strategy& (commercial), Eight Advisory (tax structuring) and Crosslake (technology).
“Isca Ventures very quickly demonstrated an expert knowledge and understanding of the mechanics of our business. Fargo has come a long way over the past few years and Isca Ventures has been with us at every step, culminating in the recent transaction with August Equity Partners. The advice and guidance from Isca Ventures has been invaluable for us,” added Steve Colins.
