UniSea Customer Conference, October 10-11th 2024.
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The combination brings together two complementary specialist software businesses serving the global maritime industry. UniSea’s HSEQ, maintenance, procurement, and dry-docking platform supports more than 3,000 vessels. Kaiko Systems serves more than 1,000 vessels across leading ship managers, with specialized, AI-powered tools for vessel inspections, SIRE 2.0 self-assessments, port state control preparation, and more. Together the combined group will support over 4,000 vessels worldwide.
“This acquisition strengthens our position, broadening the FMS suite while keeping the customer-driven, specialised approach that got us here,” said UniSea Founder & CEO Kurt Roar Vilhelmsen, after signing the deal on 29 May.
“Kaiko adds comprehensive frontline inspections to the group and is a natural next step in UniSea's transition from HSEQ specialist to full-suite FMS provider. We are now very excited about what we can achieve together with Kaiko for our customers and the broader maritime market.”
Kaiko Systems’ Co-Founder & CEO Fabian Fussek said: “Over the past five years, we have built a platform with unique capabilities that are unmatched by anyone else in this industry. We got here with a team of motivated technology and maritime specialists who brought fresh thinking from outside maritime and combined it with deep industry expertise. That combination is what gave us a different perspective and a new approach to the inspection problem, and this acquisition is a testament to the hard work the team has put in to make it real.”
“Joining UniSea is the right next step for the ambition we set out with: structured digital inspection data as the standard for the maritime industry. Our customers gain a long-term owner with deep maritime credibility, an aligned product vision, and the resources to invest further in what we have built. For our customers, the product and the people behind it stay the same. For our team, this is continuity and acceleration at the same time.”
UniSea has acquired 100% of Berlin-based Kaiko Systems, founded in 2020 by Fabian Fussek and Eddy del Valle. The acquisition was financed by a significant capital injection by Adelis Equity into the group, with a continued long-term partnership in mind.
It marks the latest investment by Swedish private equity fund Adelis Equity after coming onboard as majority owner of UniSea in 2022. Its financial support has bolstered UniSea’s ability to develop new FMS modules and improve the overall value delivered to the customers, while accelerating growth and tripling the size of the workforce.
The acquisition reflects a broader shift in the maritime software market, as shipowners look for deeper relationships with trusted providers that can deliver connected, complementary products, rather than a patchwork of disconnected tools, according to Vilhelmsen.
“Backing UniSea has been a real privilege, and we are proud to extend that partnership for the long term as Kaiko joins to form UniSea Group. Together we can create even more value for our customers, and we look forward to supporting the management team in building something distinctive for the maritime industry over the years to come,” said Jørgen Møinichen, Director in Adelis Equity.
Kaiko Systems' mobile-first SaaS platform helps maritime crews prepare for and improve their score on mandatory inspections, offering end-to-end coverage for SIRE 2.0, visual inspections of hull and equipment, and AI-enabled features across the inspection workflow. Complementary modules let crews track vessel health and standardise reporting, reducing manual workload onboard.
Kaiko Systems will continue to operate as a distinct product with its own roadmap and team. Customers using either product today are not required to change how they work, but the combined group will offer seamless integration points so data can flow between Kaiko and UniSea modules.
“Each product is designed for a specific job and we want both to remain best in class at what they do,” said Dagfinn Rasmussen, COO of UniSea. “What we are building together is the opportunity for customers to connect them where they unlock the most value, while preserving the specialist depth that has made each product successful on its own.”
Kaiko brings strong AI capability to UniSea, with its platform applying AI and proprietary computer vision across inspection workflows, including document detection, image verification and corrosion detection.
“This partnership will further accelerate our AI initiatives and help our customers automate their operations, increase efficiency, and reduce costs– giving UniSea a meaningful step up in applied AI for maritime operations,” Rasmussen added.
With almost three decades of operating history, UniSea has grown from being a leading provider of HSEQ SaaS to incorporate maintenance, procurement and dry-docking into its FMS platform that now consists of 40 modules in use across 3,000 vessels.
The company’s focus since 2022 has largely been on organic growth, having acquired dry-docking management software company Maindeck in 2023, which has notched up over 1800 projects.
Vilhelmsen said UniSea is now looking to further expand through the addition of complementary SaaS solutions that add to this group of seamlessly connected, best-in-class products.
“As we are now a much larger organization and with a broader product portfolio, we will continue to look for specialist additions where they strengthen the group for our customers,” he concluded.
UniSea is a software provider specializing in solutions for the maritime industry, helping companies streamline operations, enhance compliance, and optimize sustainability efforts. With almost three decades of experience, UniSea’s suite of digital tools supports shipping companies in managing various operational processes, including safety management, environmental compliance, planned maintenance, procurement and more. UniSea is committed to driving digital transformation within the maritime sector by offering user-friendly, integrated solutions that deliver real value to its clients. More information: www.unisea.no
Kaiko Systems is a Berlin-based provider of AI-powered frontline intelligence for the maritime industry. The company’s mobile-first platform supports shipping companies with digital vessel inspections, structured vessel health data and intelligent automation across the full inspection lifecycle. Kaiko Systems supports more than 1,000 vessels worldwide with a team of 30+ technology and maritime specialists across offices in Berlin, London, and Singapore. More information: www.kaikosystems.com
Adelis is a growth partner for well-positioned companies. Adelis partners with management and owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 49 platform investments and more than 350 add-on acquisitions. Adelis today manages approximately €4.5 billion in capital. More information: www.adelisequity.com