Firmament, a provider of structured equity capital solutions to small- and medium-sized enterprises (SMEs), announced today its investment in NASCENT Technology, a leading manufacturer of Automated Gate Systems (AGS), software and systems integration for the supply chain, including rail, marine terminals, manufacturing and distribution centers, as well as the private and for-hire carrier market.
The acquisition of NASCENT is a continuation of Firmament’s longstanding commitment to investing in the supply chain. NASCENT is the worldwide leader and pioneer of fully integrated, scalable hardware and software for automated gates, portals, and kiosks as well as safety and security monitoring equipment. NASCENT celebrated its 26th anniversary in January and has played an instrumental role in accelerating and transforming gate and portal processes in the intermodal industry. Ted Wong, Principal at Firmament, remarked, “Our investment will allow NASCENT to invest in its suite of best-in-class technology solutions and to service its growing customer footprint during a time of unprecedented demand for improved visibility and control within the supply chain. We value the opportunity to be part of the solution for the current supply chain challenges.”
NASCENT will also benefit from strategic partnership with Firmament’s portfolio company, Envase Technologies, the largest and most innovative cloud-based Transportation Management System (TMS) provider for intermodal and drayage operators in North America. Since 2020, Envase’s portfolio of brands has grown to include Profit Tools, Compcare Services, Tailwind Transportation Software, SecurSpace, and Infosite Technologies. The integration of data and the resulting real-time visibility from intermodal and drayage operators on-the-go through to terminals and facilities in the NASCENT footprint offer customers and partners an unmatched value proposition.
“The NASCENT team is excited by Firmament’s investment and what the future holds. Firmament’s knowledge and expertise within the supply chain industry will enable us to support our growing customer base and their evolving technology needs. Furthermore, our customers in the intermodal and drayage industry will greatly benefit from the strategic partnership with Envase,” said Ray West, President and CEO of NASCENT. “We are eager to leverage our technologies and teams in ways that will help our customers move freight more efficiently and securely through ports, rails, yards, warehouses, and end destinations with complete visibility.”
Larry Cuddy, Jr., CEO of Envase Technologies, commented, “NASCENT’s market-leading technology and expertise aligns perfectly with Envase’s goal to revolutionize and digitize the end-to-end lifecycle of containers. With this strategic partnership, NASCENT and Envase have a significant opportunity for technological innovation within the intermodal industry and international growth and expansion.”
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