Morgan Stanley Finances $105 Million Series C Investment to Enhance Sustainability in Supply Chains
In a significant move towards enhancing global supply chain security and sustainability, Morgan Stanley Investment Management (MSIM) has announced its investment in Overhaul Group. The investment, led by Springcoast Partners and Edison Partners, will accelerate tech innovation, acquisitions, and the adoption of lower-carbon logistics options at Overhaul.
Founded in 2016, Overhaul operates at the intersection of supply chain visibility software and cargo risk management. The company's proprietary software solution continues to enable customers to increase the security and efficiency of their supply chain operations, while also helping them reduce emissions by unlocking lower carbon transportation modes for high-value products.
Overhaul's CEO, Barry Conlon, expressed appreciation for the partnership, stating, "We are excited to have Morgan Stanley join us in our mission to remain at the forefront of enabling secure, resilient, and sustainable global trade during a period of unprecedented supply chain disruption."
Vikram Raju, Head of Climate Private Equity Investing at MSIM, is looking forward to supporting Overhaul's sustainability proposition with Morgan Stanley's global platform. Jake Van Koevering, Partner in MSIM's 1GT, further emphasised Overhaul's focus on managing and reducing risks across global supply chains.
Overhaul's solution currently safeguards more than $1.4 trillion in global cargo trade with a 99.9% shipment protection rate. The company's partnerships include Springcoast Partners, Edison Partners, and now Morgan Stanley.
In addition to its investment in Overhaul, MSIM has also acquired Energy Efficiency Solutions Provider, Resource Innovations. This move is expected to further advance Overhaul's technology development and acquisition strategy.
Overhaul's aim is to continue to lead the way in enabling secure, resilient, and sustainable global trade. With the support of its partners and investors, the company is well-positioned to meet the challenges of the modern global supply chain and drive positive change in the industry.
