H.I.G’s Ship Supply International buys Marine Trading Services
Ship Supply International, a portfolio firm of H.I.G. Capital, has acquired US-based port logistics solutions provider Marine Trading Services (MTS).
Based in South Hackensack of New Jersey, MTS is a regional port logistics business, which offers time-sensitive, last-mile delivery of critical perishable goods and deck and engine maintenance products to vessels.
The full service ship chandler offers provisions, bonded goods, chemicals, medical equipment and deck and engine supplies to customers across the Northeast.
MTS works with premier specialty suppliers and distributors to offer customers with customized port logistic solutions. It provides services to customers at all ports between Portland of Maine and Norfolk of Virginia.
Ship Supply International CEO Ares Michealides said: “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.
“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.”
MTS president Panos Livanos said: “Ship Supply’s resources and capabilities should allow us to enhance our value-added solutions for existing customers and forge relationships with new customers in our core geographies.”
Based in Miami of Florida, Ship Supply offers port logistic services to customers at around 100 domestic and international ports.
Image: Ship Supply International has acquired port logistics business Marine Trading Services. Photo: courtesy of adamr / FreeDigitalPhotos.net.