Ship Supply International, a portfolio company of H.I.G. Capital, has acquired Marine Trading Services.
Marine Trading Services (MTS) provides last-mile delivery of perishable and non-perishable goods and deck & engine maintenance products to vessels. Products include bonded beer and wine; cabin stores (linen, galley supplies, and cleaning products); chemicals and lubricants; construction materials (steel bar, sheet and pipe); deck and engine products (tools, hoses & couplings, ropes & hawsers); and electrical stores (lamps, batteries, and cables). MTS, led by President Panos Livanos, is headquartered in South Hackensack, NJ and serves all ports from Portland, ME to Norfolk, VA (www.mtsmarine.com).
“We are pleased to support Ship Supply in its acquisition of MTS,” said Jeff Zanarini, a Managing Director of H.I.G. Capital. “MTS is the fourth add-on acquisition Ship Supply has made since H.I.G. acquired the company in 2015 and highlights our continued dedication to the maritime logistics sector and our ability to find and quickly execute on high-quality assets.”
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 (www.shipsup.com).
“We are excited about the strategic expansion of our operations into the Northeast. MTS will greatly enhance our ability to serve customers at the critical Port of New York, the East Coast’s largest” said Ares Michealides, Chief Executive Officer of Ship Supply. “The combination will broaden our product offering, diversify our customer base and accelerate the growth of the Ship Supply platform as we continue to execute on our vision of creating a global leader for commercial port logistic services.”
H.I.G. 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 $20 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).
© 2017 Private Equity Professional | February 13, 2017
