Danish company Scan-Trans and US-based Intermarine announced today (Wednesday) they have completed a merger to form a leading company in project and heavylift cargo.
The companies will merge their operations under the Intermarine name, a move they say will expand customer coverage with more than 50 multipurpose and heavylift vessels with lifting capabilities of up to 800 metric tons.
“We believe the company will set the standard for customer service and value in industry,” said Al Stanley, President and Chief Executive Officer of Intermarine.
“As the industry consolidates, global breadth and laser focus on customer needs will define the winners.”
Intermarine said the merger would see 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,” said Lars Juhl, Chief Executive Officer 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 annual turnover for the company is forecast to be more than $500 million. The largest shareholder of the merged company is private equity firm New Mountain Capital with more than $9 billion 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,” said Andre Grikitis, Operating Chairman of Intermarine.
“The industry will continue to consolidate and the company will have the global footprint to support all of our customers.”
The company said that following the merger it would focus on four key areas – Inter-Americas liner and terminal services, global chartering and liner services, commercial management of third-party vessels and US Flag services worldwide.