Written by
Marine Log Workers
SEACOR Island Traces serves almost 30 locations throughout the Bahamas and Turks & Caicos. [Photo: SEACOR Island Lines]
SEACOR Holdings Inc., a portfolio firm of American Industrial Companions, experiences that it has concluded the sale of its SEACOR Island Traces Caribbean liner and logistics enterprise to Sweetwater, Fla., headquartered King Ocean Companies Ltd in a transaction together with all operations and property.
King Ocean makes a speciality of marine transportation and logistics options to shut to 50 locations throughout the Caribbean and South and Central America out of its Port Everglades services in Ft Lauderdale, Fla.
“For 40 years, King Ocean, a multi-generational, family-owned enterprise has constructed a robust popularity for security, reliability, and belief amongst its folks and clients,” mentioned Eric Fabrikant, CEO of SEACOR Holdings. “As the following stewards of SEACOR Island Traces, King Ocean has the values, imaginative and prescient, and sources to meaningfully put money into the corporate’s future and create lasting alternatives for improvement and development.”
Primarily based in Fort Lauderdale, Fla., SEACOR Island Traces serves almost 30 locations throughout the Bahamas and Turks & Caicos with a fleet of touchdown craft and LO/LO vessels able to accessing ports within the area that, in some circumstances, could also be nothing greater than a seashore and transporting a spread of containerized and refrigerated cargoes, break bulk, and heavy tools by way of weekly liner and constitution service. SEACOR acquired SEACOR Island Traces, previously G&G Transport, in 2011.
“SEACOR Island Traces not solely vastly enhances our present platform including new end-markets and marine and shoreside infrastructure, but additionally augments our workforce with extremely certified transportation and logistics professionals,” mentioned Jose Da Costa Gomez, president and CEO of King Ocean. “I want to acknowledge Eric Fabrikant and SEACOR Island Traces’ chief government officer Daniel Thorogood for his or her sturdy governance and administration of enterprise in addition to welcome our former colleague Charles Gittens again to King Ocean as he continues in his position as president. We stay up for making certain a easy transition for all and persevering with to ship superior service to our clients, each present and new.”
“Having served on the helm of SEACOR Island Traces for almost 13 years, I can say with confidence that the corporate has a vivid future with King Ocean, a legacy supplier in our core markets,” mentioned Daniel Thorogood. “Collectively, the operational efficiencies and new development alternatives will unlock higher worth for our clients and workers alike.”
AMA Capital Companions LLC acted as monetary advisor and Milbank LLP acted as authorized advisor to SEACOR. Braemar Company Finance GmbH acted as monetary advisor and Carlton Fields PA acted as authorized advisor to King Ocean Companies.
