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Published: 21 August 2012
Intermarine and Scan-Trans join forces
Two project cargo and heavy lift shipping operators are to merge under the name Intermarine
New Orleans-based project and heavy lift specialist Intermarine LLC and Denmark-based Scan-Trans Holding AS have agreed to merge and work in future as one unit under the name “Intermarine." They will bring together their fleets to operate more than 50 multipurpose and heavy lift vessels.
Annual revenue of the new group is expected to reach around US$500M. A private equity firm, New Mountain Capital, is the major shareholder with more than US$9B under management.
“We believe that success during the next three years will be defined by providing all of our customers with the best possible cargo solutions across their global networks," commented Andre Grikitis, Chairman of Intermarine. “The industry will continue to consolidate and the company will have the global footprint to support all of our customers. 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.”
The merger between Intermarine and Scan-Trans is touted as an alignment of shared values, shared goals, and a shared vision of the future. “Consolidation is the key to success in our line of business, and Scan-Trans has been looking for the ideal partner for some time,” noted Lars Juhl, CEO of Scan-Trans Worldwide. “We are therefore thrilled to merge with Intermarine, a company we feel is the perfect match in business, culture and values.”
The "new" Intermarine will focus on:
- Inter-Americas liner and terminal services
- Global chartering and liner services
- Commercial management of third party vessels
- US flag services worldwide.