PriestleySoundy is advising Frank Olsen (CEO) and his Senior Management Team in connection with the acquisition of a majority stake in Inchcape Shipping Services (“ISS”) by Epiris.
The transaction is expected to close in towards the end of April 2022. Financial terms are not being disclosed.
ISS is the largest independently managed network of ship agents in the world. It offers a full range of port agency, marine and survey services, delivered safely and with a consistent commitment to exceptional service. Since 1874, ISS has provided the local knowledge and means to deliver port calls that enable business to ship smoothly and trade successfully.
Epiris is a top-decile private equity firm which invests in opportunities to transform businesses in partnership with exceptional management teams. It targets control positions in UK-headquartered businesses with an enterprise value of between £75 million and £500 million.
In 1999, Epiris (then operating as Electra Investment Trust PLC) led and fully underwrote the management buyout of ISS from Inchcape plc for £40.8 million. In 2006, Epiris announced the sale of ISS to Istithmar, a major investment house based in the United Arab Emirates, for US$285 million.
Epiris are being advised by Latham & Watkins and Carey Olsen (Jersey).
4 April 2022
