Triton to sell Nordic Tankers to MOL Chemical Tankers
Copenhagen (Denmark), 08 January 2019 - Funds advised by Triton ("Triton") today announced the sale of Nordic Tankers A/S (“Nordic Tankers”) to MOL Chemical Tankers Pte. Ltd. (“MOLCT”), a wholly-owned subsidiary of Mitsui O.S.K. Lines, Ltd. (“MOL”), which is one of the largest shipping companies in the world and listed on the Tokyo Stock Exchange.
Nordic Tankers is a leading chemical tanker company, mainly operating in trade lanes in the Americas, trans-Atlantic and Europe. Triton acquired the company in 2012 and has since strengthened it through initiatives such as recruiting a new management team, investing in new vessels and participating in consolidation through the Crystal Nordic JV, which was sold separately last year.
"We would like to thank the management team, the employees and all other stakeholders for their contributions to Nordic Tankers’ development during Triton’s ownership. We view this as an appropriate time for a long term industrial owner to continue developing the company further" says Peder Prahl, Director of the General Partner to the Triton fund.
About Nordic Tankers
Nordic Tankers A/S is a leading chemical tanker company that transports specialized liquid products in bulk for large chemical producers and oil majors. Building on many years of industry experience, Nordic Tankers offer premium services in all designated core trade lanes. For more information, please visit www.nordictankers.com
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing 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 38 companies currently in Triton's portfolio have combined sales of around € 13.1 billion and around 85,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.
For more information please visit: www.triton-partners.com