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New York-based non-public fairness agency Searchlight Capital Companions has purchased into Singapore shipmanager Synergy Marine Group.
Searchlight didn’t disclose the phrases of the deal, besides that it concerned a minority possession stake within the Rajesh Unni-led group.
Based in 2006, Synergy has grown to turn into the world’s fourth-largest shipmanager, with a world community of over 25 places of work throughout 13 nations and round 500 vessels on its books, together with tankers, bulkers, containers and gasoline carriers.
Commenting on the deal, Captain Rajesh Unni, founder and CEO of Synergy, mentioned: “We have now at all times believed in and carried out a powerful tradition of buyer centricity in Synergy. Now, to have the ability to additional proceed creating incremental worth for our shoppers, we have to take a look at newer working fashions centered on a price pushed partnership versus the current vendor mindset within the ship administration business. Amongst different issues, this may very well be pushed by digitalisation particularly contemplating the elevated regulatory complexity and ever rising ESG concerns. Therefore, we’re excited to accomplice with Searchlight, who’ve a powerful and demonstrable monitor document of rigorous transformation and operational excellence execution.”
Searchlight Capital was established in 2010 by Eric Zinterhofer, Oliver Haarmann, and Erol Uzumeri with places of work in New York, London and Toronto. It has round $10bn in belongings underneath administration, together with Greek operator Celestyal Cruises, which it took over in November final yr.
“At Searchlight we search to accomplice with like-minded founders of market main companies which might be centered on delivering persistently high-quality companies to their prospects– and with Synergy and Captain Unni we’ve got discovered the right match. This administration group, constructed over a few years, has a extremely spectacular monitor document of each natural and acquisitive development and collectively we look ahead to persevering with Synergy’s growth, whereas guaranteeing supply of the mission to repeatedly enhance the delivery business for all contributors,” added James Redmayne, accomplice at Searchlight.
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