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Tim Hartnoll and partners acquire Bengal Tiger Line and Caribbean Feeder Services
Niche operators are snapped up by HICO Investment Group; financial details were not disclosed
Tim Hartnoll, CEO of Sea Consortium Pte Ltd, Singapore, and private venture company HICO Investment Group, has acquired Bengal Tiger Line (BTL) and a “majority stake” in Caribbean Feeder Service, for undisclosed sums. Mr. Hartnoll is also the owner of X-Press Feeder, the world’s biggest common feeder carrier.
BTL was founded by Schoeller Holdings and Transnaval Schiffahrt and was owned by CMIA Capital Partners Singapore. According to the company, the takeover by HICO does not entail any changes in management structure, operations and services. HICO will look to build value through the knowledge, networks, skills and culture of the businesses under HICO’s umbrella.
Bill Smart, CEO of BTL, said: “BTL remains a stand-alone common feeder, retaining its existing management structure and services.” The line has a capacity of 10,000TEU, with six vessels operating between South East Asia and the Arabian Gulf.
Caribbean Feeder Service has a fleet of 16 vessels with an aggregate capacity of 16,000 TEU. The deal was made with the main owners, Pérez y Cía Group, which will remain as a shareholder. CFS was established in 1999 as the largest feeder operator serving the Caribbean, Central America, Columbia and Venezuela and it was acquired by Pérez y Cía in 2018. CFS will continue to be operated independently, as a separate brand, the same as BTL. HICO was established in 2021 by the Hartnoll family.
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