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Firmament Acquires NASCENT Technology, the Market Leader in Automated Gate Systems for the Supply Chain Industry
Thursday, February 10, 2022
NEW YORK, Feb. 2, 2022 /PRNewswire/ -- 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."
About NASCENT Technology
NASCENT Technology (www.nascent.com) is the worldwide leader and pioneer in the development, manufacture, installation, and service of fully integrated, scalable hardware and software for gates, kiosks, safety, and security monitoring equipment. As one of the pioneers of Automated Gate Systems (AGS) to the industry, NASCENT has consistently led the way in new technology-based solutions, providing several innovations and industry firsts. Backed by unrivaled engineering, assembly, software development, QA, and support organizations, NASCENT continues to draw on its vast industry experience and keen focus on supply chain operations to provide unparalleled solutions.
About Envase
Envase (www.envasetechnologies.com) provides mission-critical, cloud-based transportation management system (TMS) enterprise software and mobile applications to the supply chain, with a core focus on the drayage trucking niche. The software merges order entry, dispatch, container tracking, electronic data interchange (EDI), API connectivity, document imaging, invoicing, settlements, and business intelligence, among other functions, into a single, streamlined system providing carrier efficiencies and container visibility over the supply chain.
About Firmament
Firmament (www.firmament.com) provides structured equity capital solutions to small- and medium-sized enterprises. Firmament is a value-added partner to entrepreneurs, management teams and business owners and curates solutions by deploying versatile capital in a user-friendly way. Firmament concentrates on software and services businesses with significant scaling potential in the healthcare, logistics, wellness and environmental sectors. With offices across the United States and in the United Kingdom, Firmament is focused on turning small business into big business.
Press Contact:
Allie Reitman, media@firmament.com
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SOURCE Firmament
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