H.I.G. Capital’s portfolio company Ship Supply International has acquired Alliance Supply Management, a provider of port logistics services.
Alliance Supply Management provides last-mile delivery of deck & engine maintenance products and perishable goods to commercial vessels throughout the Gulf Coast. Products and services include food service & bonded items; general marine supplies; safety & firefighting equipment; fiber & wire rope; industrial & offshore supplies including tools, equipment, cleaning and maintenance items; spare parts & machinery; cash to master crew transfers; and laundry services. The company was founded in 1906 by the Margolin family and is headquartered in Houston. Bruce Margolin, the President of Alliance, will join the Ship Supply team as Chief Commercial Officer (www.asmlimited.com).
Ship Supply International, acquired by H.I.G. in November 2015, provides last-mile delivery of products and maritime services to cruise, cargo and military marine vessels. The company utilizes an asset-light business model and serves customers in over 100 domestic and international ports. Ship Supply was founded in 1968 and is headquartered in Miami. The company is led by its president Christian Giannakopoulos (www.shipsup.com).
H.I.G.’s goal with Ship Supply is to build a global commercial port logistic services company. “Alliance adds tremendous complementary value and accelerates the growth potential of the Ship Supply platform. The acquisition, which was completed just months after our initial investment in Ship Supply, highlights our dedication to the maritime logistics sector and speaks to our ability to find and quickly execute on the acquisition of high-quality assets,” said Jeff Zanarini, a Managing Director at H.I.G.
H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. H.I.G. has more than $19 billion of capital under management. The firm was founded in 1993 and is based in Miami with additional offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Milan, Paris, and Rio de Janeiro (www.higcapital.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 2-3-16
