PSG-backed ZeroNorth picks up Prosmar Bunkering

• Prosmar is an online platform, supporting the bunker fuel market
• ZeroNorth acquires Prosmar’s Bunker Dashboard and Bunker Pricer, which will operate under the name Prosmar Bunkering
•  Prosmar Risk and Prosmar Price Matrix, which offer freight risk management services, are not included in the deal

PSG-backed ZeroNorth announced it has acquired Prosmar Bunkering, an online platform supporting the market for fuel aboard ships. The move to acquire Prosmar Bunkering directly supports ZeroNorth’s ambitious growth strategy within the bunker space. In December 2021, ZeroNorth acquired ClearLynx – now ZeroNorth Bunker – another online bunker platform. The acquisition will aim to accelerate digitalisation and transparency in the bunker industry and further support the decarbonisation transition within the marine value chain.

The deal sees Copenhagen-based ZeroNorth acquire Prosmar’s Bunker Dashboard and Bunker Pricer module, which will operate under the name Prosmar Bunkering. Oslo-based Prosmar’s two other services, Prosmar Risk and Prosmar Price Matrix, which offer freight risk management services, are not included as part of the deal. Prosmar Bunkering will operate as an independent, standalone business, with its management team retaining their positions.

“We have a clear ambition to help the industry with its transition to clean fuels,” said Søren Meyer, CEO of ZeroNorth. “By acquiring Prosmar Bunkering, we believe that we can further accelerate and pursue our goal to decarbonise shipping, together with the industry.”

This is the first acquisition by ZeroNorth since its capital equity raise of $50M in June 2022.

PSG is a growth equity firm that invests in software and tech-enabled service companies. To date the firm has backed more than 115 companies and facilitated over 420 add-on acquisitions. It is based in Boston, Massachusetts and has raised over $10 billion in capital since its inception in 2014.