Buddle Findlay is proud to have advised the founders of logistics software business TNX Logistics on its sale to German corporation Transporeon Gmbh, for an undisclosed sum. TNX operates a software-as-a-service road transport procurement platform incorporating artificial intelligence and behavioural science technology.
TNX CEO Jonah McIntire said "At an exit event, start-up investors and founders want the assurance of working with the best counsel available. The same is true in the crucial moments of founding and fund raising. Way back at the start of TNX we asked for recommendations for a top firm in New Zealand, and Buddle Findlay was the name we heard from those we trust. It was all that more effective to have this great firm with us from beginning to end. During the sale, the lead transaction partner, Lisette Hood, gave exactly the right mix of expertise, availability at the odd hours international deals require, and commitment to understand and execute on the shareholder goals."
Buddle Findlay has advised TNX since its inception in 2016. The TNX founders originally chose New Zealand as a test market for its road transport solution, before building up a global customer and employee base across five continents. Along the way, TNX has attracted investment from Coda Group and some of New Zealand's top venture capitalists.
Buddle Findlay transaction partner Lisette Hood said "We're delighted to have assisted the shareholders of TNX to realise the value of their investments. This sale involved some complexity due to the different jurisdictions in which TNX operated, the differing nature of the consideration being offered and the desire of the board of TNX to ensure that shareholders and employees unanimously supported the sale."
Buddle Findlay Technology and TNX relationship partner Allan Yeoman commented, "It is particularly gratifying to have helped Jonah and his team achieve a successful exit, having worked with him and co-founder Alex Hoffmann for several years in getting their business off the ground, through subsequent investment rounds, key customer contracts and other significant milestones."