Germany-based shipping company Zeaborn Group signed a deal to acquire business operations of compatriot liner services specialist Rickmers-Linie, owned by Rickmers Holding, on February 7, 2017.
The planned sale also includes the entire operating business of Rickmers’ subsidiaries, MCC Marine Consulting & Contracting, a bunker and chartering broker, and NPC Projects, which was acquired by Rickmers in July 2016 and offers a heavy lift tramp service.
The transaction needs to be approved by financing banks of the Rickmers Group and anti-trust authorities.
Upon closing of the transaction, Rickmers-Linie and MCC (the sellers) will pay compensation in the single-digit million-euro range. However, the parties did not reveal the price details.
Under the deal, Zeaborn will have the right to use the brand names Rickmers-Linie and Rickmers-Line but only within the scope of activity of the business to be acquired.
“With the growth of our fleet, we were faced with the challenge of building a global organization. Everyone who knows the shipping industry knows that this is a very challenging task in our time. In this respect, it’s a fortune for our development that Rickmers-Linie was available at the right time,” Jan Hendrik Többe, Managing Partner of Zeaborn, explained.
“Rickmers-Linie gets new powerful shareholders who want to expand their activities in the MPP segment. With Zeaborn, we have the right partners to play an active part in the consolidation of the heavy and MPP sector in a currently difficult market situation,” Ulrich Ulrichs, CEO of Rickmers-Linie, stated.
Rickmers-Linie said that the sale of the business segment has no impact on its workforce, shipping routes and tonnage under long-term charter.
Together, Zeaborn and Rickmers-Linie (with NPC and MCC) have a combined fleet of about 50 multi-purpose vessels, with deadweight capacities between 7,500 and 30,000 tons, and a combined lifting capacity of up to 700 tons.
The Rickmers Group will focus in the future on the activities of its Maritime Assets and Maritime Services business segments, according to Rickmers-Linie.