Private equity venture HICO Investment Group (HICO) has acquired the assets of Bengal Tiger Line (BTL) from CMIA Capital Partners.
BTL wrote in a recent advisory: “The change of ownership from CMIA Capital Partners to HICO will not see any change in the management structure of Bengal Tiger Line, and the day-to-day business will remain as status quo and will continue without any form of disruption”.
It further added that HICO will bring value to its company through the knowledge, network, skills and culture of the businesses under the HICO umbrella.
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BTL mainly operates around the Indian subcontinent, Southeast Asia and the Arabian Gulf, with chartered vessels.
The company had initial roots in Hamburg, in 1986, and registration was subsequently transferred to Cyprus before the move to Singapore in January 2009.
In 2018, BTL was acquired by CMIA Capital Partners – a Singapore based Investment Fund.