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Ship Supply International completes acquisition of Universal Maritime

Published 06 April 2018

H.I.G. Capital announced that its portfolio company Ship Supply International has acquired Universal Maritime.

Headquartered in Southern California and with convenient access to the ports of Los Angeles, Long Beach, San Diego, Oakland and San Francisco, Universal is a full-service port logistics business, which supplies a diverse range of products, including deck & engine supplies, provisions, cabin essentials and bonded goods.

The Company has built a tradition of exceptional customer service across U.S. West Coast ports, handling time-sensitive, last-mile delivery of critical merchandise from San Diego to San Francisco.

Ship Supply CEO Ares Michaelides said: “We are excited about the Universal transaction.

“The launch of our U.S. West Coast operations is a significant milestone for Ship Supply. The strategic rationale for this acquisition is highly compelling, particularly for our clients. The transaction allows customers to receive unmatched service, high quality products and reliable delivery from a single-source supplier with coast-to-coast capabilities.”

Mike Tsalickis, Universal’s Founder, commented, “We are looking forward to starting a new chapter of growth with the Ship Supply team, as we continue to focus on providing customers with industry-leading service and solutions. Ship Supply’s international resources and capabilities will allow us to enhance our value-added solutions for existing customers and forge relationships with new customers in our core geographies.”

“This acquisition is the culmination of a focused initiative to pursue a strategic combination with the leading West Coast port logistics provider. After a two-year process examining our options, we are thrilled to be expanding the Ship Supply network to include a quality operator like Universal, an organization synonymous with best-in-class customer service.

“Universal is the fifth add-on we have completed since our original investment in Ship Supply, with more to follow. We have demonstrated great promise in our national roll-out strategy, and as a Board remain committed to continuing our steadfast support of Ship Supply’s robust acquisition program,” added Jeff Zanarini, a Managing Director at H.I.G.

Headquartered in Harbor City, California, Universal is a full-service ship chandler that provides provisions, bonded goods and deck & engine supplies to clients across the West Coast. Universal combines its long-standing relationships with premier specialty suppliers & distributors with the logistical expertise to provide time-sensitive, customized port logistics solutions.

Headquartered in Miami, Florida, Ship Supply has provided high quality goods and services to the maritime industry for nearly fifty years. The Company offers reliable port logistics services 24 hours per day / 7 days per week with the expertise to cater to the specific needs of a diverse set of specialty vessels and end-markets.

Ship Supply offers seamless service to customers at over 100 domestic and international ports. The Company’s technologically-advanced capabilities and multi-lingual staff serves as the critical line of communication with vessels and crew to provide its clients a comprehensive solution for in-port requirements.

Source: Company Press Release