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WSM and MPC buy Zeaborn Ship Management
Singapore-based Wilhelmsen Ship Management and the Hamburg-headquartered private equity company MPC Capital, have jointly purchased Zeaborn Ship Management GmbH & Cie. KG from Zech Maritime Holding.
The move signals the withdrawal of Zech from the maritime services sector as in July 2023, it sold its commercial management operations for container vessels in July 2023. The deal will swell WSM’s fleet of about 450 ships by 100 vessels. The portfolio includes containerships, bulkers, tankers and multi-purpose vessels. In addition to the vessels, SWM is also acquiring Zeaborn’s offices in Hamburg, Limassol, Singapore and Manila.
Commenting on the transaction, Holger Strack, Managing Director of Zech Maritime Holding, said: “While it’s never easy to divest a well-performing company, this transaction makes sense for all parties involved: for us, the purchasers and our staff. With the combined fleet, Wilhelmsen Ship Management and MPC Capital will be able to jointly achieve significant economies of scale in the area of third-party technical ship management. At the same time, we are delighted to have found buyers with a long-term vision in both Wilhelmsen Ship Management and MPC Capital.”
Zech will now focus on expanding is investments in Tufton Investment Management and opertions, such as United Heavy Lift (UHL). UHL will take delivery of two additional F900 multipurpose ships in early 2024, expanding its fleet to 19 modern eco-heavy lift vessels.
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