Norwegian Car Carriers AS (NOCC) is pleased to announce that institutional investors advised by J.P. Morgan Global Alternative’s Global Transportation Group have acquired 50% of the company from Klaveness Marine, taking their ownership to 100%. At the same time, NOCC acquired all minority shares in NOCC Atlantic DIS and became 100% owner of the NOCC Atlantic (pictured).
NOCC has a fleet of three Panamax size Pure Car Truck Carriers (about 6,500 ceu capacity) all chartered out on long term charters.
“We’re delighted to continue to have J.P. Morgan’s clients as investors, their long-term focus and backing gives NOCC the ability to grow and serve its customers,” said Olav Sollie, CEO. “J.P. Morgan’s deep industry knowledge and related business, will complement the management team’s significant experience and industry contacts.”
Nicholas Meer, Managing Director, J.P. Morgan Alternative’s Global Transportation Group, commented: “We are pleased to continue our partnership with Olav and Per and to provide growth capital to support the company and its clients.”
“NOCC and its predecessor firms have a storied history in the car carrier segment and with our sponsorship, can continue to be a key tonnage provider to the industry,” said Andrian Dacy, Global Head of Transportation for J.P. Morgan Alternatives. “We believe NOCC is well positioned to help its clients meet the challenges of today’s market.”