Z Capital Partners has acquired Universal Marine Medical Supply International, a provider of pharmaceutical and medical services to the maritime industry serving both commercial and cruise end markets.
Unimed provides a range of medical and clinical supplies, including oxygen, surgery equipment, vaccines, and pharmaceutical products. The company also provides related services such as procurement, replenishment, compliance, and facilities management.
Medical standards in the maritime industry are highly regulated, and ship operators can face severe consequences for lack of compliance with international standards and “flag of convenience” requirements. Each year, Unimed serves approximately 10,000 ships – cruise and commercial vessels, tankers, cargo ships, and freighters – from 10 worldwide offices that can access over 2,000 ports. According to the New York City-headquartered company, led by CEO Alan Kessman, it is the largest global operator within this highly fragmented sector of the maritime services industry.
“As we look to expand Unimed’s premier services to additional areas of marine traffic, having a partner with the resources, expertise, and track record to help our business accelerate growth is invaluable,” said Mr. Kessman. “We have a long track record of innovation – including introducing the industry’s first subscription model in 2018 – and this partnership with ZCG will enable us to build on that momentum and reach new levels of success.”
Z Capital’s growth plan for Unimed includes expanding into other marine markets, including superyachts, yacht management companies, and manufacturers.
“Unimed has built a reputation for providing clients with exceptional value and essential, high-quality medical services, and there are a number of compelling opportunities in today’s fragmented maritime services market to grow its customer base and introduce new innovations,” said James Zenni, the founder, president and chief executive officer of Z Capital. “With Alan Kessman and the Unimed team, we look forward to leveraging new technologies and Z Capital’s deep operational expertise to pursue the vast white space opportunities, further enhance customer service and ensure the health, safety, and compliance of even more ships.”
Z Capital makes control investments in middle-market distressed companies, operational turnarounds, and special situations. The firm targets companies with an enterprise value of less than $1 billion or EBITDA of less than $100 million. Sectors of interest include basic materials, branded consumer, automotive parts, capital equipment, and general manufacturing. Z Capital is based in the Chicago suburb of Lake Forest and has additional offices in New York City.
© 2022 Private Equity Professional | December 8, 2022
