Nordic Tankers joins forces with Crystal Pool
Copenhagen (Denmark), 5 November 2015 - Triton Fund III Portfolio Company Nordic Tankers intends to form a jointly held company, Crystal Nordic, together with Crystal Pool. The company will be a strong player in short sea, ice class chemical tanker trade. Crystal Nordic will be owned 50/50 by Nordic Tankers and Embarcadero Maritime (Borealis Maritime). Crystal Nordic will take over the respective ice classed stainless chemical tankers businesses which currently operate under the Nordic Tankers and Crystal Pool trade names. All other Nordic Tankers-operations are unaffected by the new partnership.
The partnership is subject to approval by the competition authorities and the parties have agreed not to disclose any financials.
"This joint venture with Crystal Pool is in line with the strategy to grow Nordic Tankers. Crystal Nordic will be a strong player with a modern and efficient fleet that will strengthen the services provided to the oil and chemical industry in Europe, with focus on the Baltic Sea and the Northwestern European region", said Thomas Hofvenstam, Head of Triton Advisers (Sweden) AB, an adviser to the Triton funds.
About Nordic Tankers
Nordic Tankers is a fully integrated shipping company operating about 70 highly sophisticated chemical tankers ranging in size up to 25,000 dwt. We transport a wide range of products ranging from edible oils, acids, chemicals and other specialised products to lubricating oils and petroleum products. 36 vessels are fully owned. Our head office is situated in Copenhagen with regional offices in Stamford (Connecticut, USA), Houston (Texas, USA), Golfe Juan (France), Riga (Latvia), Bogota (Colombia) and Singapore. Nordic tankers employ approx. 170 people ashore and around 1,200 at sea.
For further information: www.nordictankers.com
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Northern Europe - with a focus on Germany, Switzerland, Austria, Italy, Spain and the four Nordic countries: Denmark, Finland, Norway and Sweden. Within this European region, Triton focuses on businesses in the Industrial, Business Services, and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 30 companies currently in Triton's portfolio have combined sales of over €14 billion and more than 60,000 employees. The Triton funds are advised by dedicated teams based in Germany, the Nordics, United Kingdom, Luxembourg, Jersey, Italy and China.
For further information: www.triton-partners.com