Cornes and Company

Park Place initiated and provided buy-side advice to one of Japan’s oldest trading organisations, Cornes and Company Limited (Cornes) on the acquisition of Global Navigational Solutions (GNS) from Phoenix Private Equity.

The Cornes business was founded in Yokohama more than one-and-a-half centuries ago. Today, the Cornes business encompasses a wide range of products and services including European luxury automobiles, marine charts and related publications, kitchenware, electronics and other high-tech products and equipment.

The GNS deal follows Cornes’ acquisition of US and Singapore based Safe Navigation. The combination of the three companies creates the largest provider of navigation software, data and products in the world.

Kenzo Watari CEO of Cornes and Company said of Park Place’s involvement “Thank you so much for your excellent support throughout this project. We were very lucky to have you with us, your guidance has been most valuable.”

Tim Clarke said “Building long term trusted relationships with business owners in the marine services sector over the last decade was at the core of putting this deal together. As a result we were able to identify and introduce the key strategic buyer for GNS.”

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