Wilhelmsen Ship Management (Wilhelmsen), a Singapore-based supplier of third-party ship management services, and Hamburg-based asset manager MPC Capital (MPCC) have agreed to buy out Zeaborn Ship Management (Zeaborn).
Zeaborn runs a fleet of over 100 vessels, including containerships, bulkers, tankers, and multi-purpose vessels, from offices in Hamburg, Limassol, Singapore, and Manila.
With Zeaborn fully integrated into MPC Capital and Wilhelmsen’s combined technical management activities, the partners establish a leading competence centre for third-party ship management in Hamburg.
Following the incorporation of Zeaborn, the merged activities will continue to operate under the Wilhelmsen Ahrenkiel and Barber brand names, respectively.
Managing Directors Dr. Michael Silies and Michael Brandhoff will co-lead the joint activities. Michael Silies has been with MPC Capital since 2003 and has been in charge of ship management since 2015. Since 2017, Michael Brandhoff has served as Zeaborn’s Managing Director.
Wilhelmsen and MPC Capital’s expanding joint ship management activities will continue to be administered from Hamburg, with over approximately 150 vessels under technical supervision.
Carl Schou, CEO and President of Wilhelmsen Ship Management, said: “We are excited to expand our cooperation with MPC Capital, based on an already successful partnership. The acquisition of Zeaborn is our strategic move to expand and strengthen our market presence in the ship management arena.
“The transaction will increase our vessels in management to a size that we are confident that we can continue to deliver the best ship management services to our existing and future customers. We are committed to ensuring a successful integration that prioritises our customer’s interest.“
Ulf Holländer, CEO of MPC Capital, stated: “As a Hamburg-based company with an outstanding track record in shipping activities we feel many overlaps in tradition and values with the Wilhelmsen group as our partner.
“As such, we are excited to grow our ship management platform. With the integration of Zeaborn’s complementary client base and services we further strengthen our market position in the ship management business. Combining our expertise with that of Zeaborn will allow us to deliver an outstanding service offering.”
The merger is scheduled to close in Q1 2024, subject to clearance by the relevant antitrust authorities.