Firmament-Backed Envase Acquires SecurSpace, Solidifying Company's Leading Position in Software and Technology Built for the Intermodal Supply Chain

NEW YORK, Oct. 5, 2020 /PRNewswire/ -- Envase Technologies, a mission-critical software platform for the intermodal supply chain, announced today the acquisition of SecurSpace, a leading gate management software and online marketplace technology provider that connects companies looking for parking and storage options to those with dedicated or excess capacity.  SecurSpace joins Envase's existing suite of market-leading Transportation Management System (TMS) software and firmly establishes the company as the leader in comprehensive technology solutions built for the intermodal community. 

"SecurSpace is highly complementary to our existing functionality, offering a technology driven marketplace where trucks, chassis, and containers can be stored in over 1,000 yards nationwide," said Larry Cuddy, Jr., CEO, Envase Technologies. "This is an essential need in the industry and one of several important links in the intermodal chain. SecurSpace will enhance our mission-critical operating systems and further allow drayage carriers to efficiently move containers across ports, rails, yards, and end-destinations. Our customers are driving the economy forward through the movement of essential goods, and we continuously strive to support them in every way possible." 

Envase offers end-to-end solutions to manage all facets of the complex intermodal ecosystem. The Envase platform also supports many new requirements of the COVID-19 work environment, including cloud-based operating systems, work-from-home truck dispatch and dispatch optimization, digital paperless workflows, and remote invoicing and driver pay. Drivers also utilize Envase's platform on mobile devices, allowing them to manage load documents without retuning to a home office, minimizing person-to-person and object-to-person contact.  

"Envase is building a platform in one of the most opaque segments of modern supply chains: intermodal and drayage transport," says SecurSpace CEO Lance Theobald.  "Given our business concentration in this space, we see a symbiotic opportunity to leverage the data generated through the SecurSpace marketplace to enhance Envase's TMS offerings and vice versa.  The Envase management team members are all battle-hardened leaders in the industry, and I look forward to joining them as we build the first complete platform serving the intermodal community." Theobald joins Envase's management team and board of directors as of closing.

Envase acknowledged the strategic contribution of its financial partner, The Firmament Group, which helped align the constituent businesses of Envase under a single vision.  Green Campbell and Tedmond Wong, who both serve as Board Members of Envase, led the transaction on behalf of Firmament.  "The intermodal landscape is no longer evolving at the speed of freight – new advances in technology and automation promise to revolutionize our industry in ways we only dreamed of yesterday," says Jim Hickman, Envase President and Board Member.  "Our alliance with Firmament empowers us to lead that charge and stretch new boundaries."

About Envase
Envase (www.envasetechnologies.com) provides mission-critical, cloud-based transportation management system (TMS) enterprise software and mobile applications to the intermodal transportation industry, 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 intermodal supply chain.

About SecurSpace
SecurSpace (https://secur.space/) offers an online marketplace connecting trucking companies in need of parking and storage space to partners with excess real estate capacity and a SaaS-based Gate Management System (GMS) that provides real estate partners with a set of tools to help efficiently manage and monetize excess real estate capacity. SecurSpace was founded to combat issues caused by a lack of adequate parking space and storage capacity in the transportation industry, with a core focus on the intermodal transportation vertical.

About The Firmament Group
The Firmament Group (www.thefirmamentgroup.com) provides tailored debt and 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 seeks both senior and junior debt capital opportunities including unitranche, second lien and mezzanine debt, and also provides equity capital structured as either preferred or common equity. With offices across the United States and in the United Kingdom, Firmament is focused on turning small business into big business.       

Envase Media Contact: Phillip Bergman, Viewstream
[email protected]; 845-728-3984

Firmament Contact: Allie Reitman, [email protected]

SOURCE The Firmament Group

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