Joseph Bonney, Senior Editor | Aug 15, 2012 10:52AM EDT
U.S.-based Intermarine and Denmark’s Scan-Trans Holding announced a stock merger that will create a company with more than 50 multipurpose and heavy-lift vessels with lifting capacities up to 800 metric tons.
The combined company will operate under the Intermarine name and will have annual turnover of more than $500 million.
Officials said the company will focus on inter-Americas liner and terminal services, global chartering and liner services, commercial management of third-party vessels, and U.S.-flag services worldwide.
The company’s largest shareholder is private equity firm New Mountain Capital. Intermarine said its financial backing will provide the capability to grow both organically and through acquisitions.
“The industry will continue to consolidate and the company will have the global footprint to support all of our customers,” said Andre Grikitis, Intermarine operating chairman. “With the strength and flexibility of the best balance sheet in the business, we are well positioned to continue our growth as both service and asset opportunities arise.”
Intermarine, founded in 1990, is managing agent for services operating more than 25 vessels ranging with capacities of 4,000 to 14,000 deadweight tons. Its operations include five U.S.-flag heavy-lift vessels and Industrial Terminals, a private project terminal on the Houston Ship Channel.
Scan-Trans operates about 30 vessels with capacities of 4,000 to 17,000 dwt. The company was founded in 1974.
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