Wrist and Klevenberg to consolidate global ship supply out of Rotterdam and Houston
Management of Wrist Ship Supply and of Klevenberg Shipping Center have entered into an agreement on a consolidation of the two companies. The transaction is subject to approval by the relevant competition authorities.
Klevenberg has a solid reputation for excellent customer service, built during decades of strong local and regional presence in the highly competitive ship supply market. By joining forces with Wrist, Klevenberg will benefit from the Wrist Group’s global network and extensive sourcing capacity, while Wrist will benefit from Klevenberg’s customer service.
The cornerstones of the business models of the two entities are in full accord. Both companies provide bundled services, increasingly demanded by customers in their pursuit of efficiency. And the mission of both teams is to provide expert care to make their customers’ life at sea better.
Klevenberg’s experienced management team will take a lead in the future joint operations out of Rotterdam, where the company has large and modern warehouse and storage facilities at Bunschotenweg, centrally located in the port area. The consolidation also includes the ground transportation company of C. Maat Transport B.V., Rotterdam.
In 2014 Klevenberg established operations in Houston, USA, catering for the Atlantic and Mexican Gulf markets. These operations are to be consolidated with Wrist’s operations in Houston and the region.
Consolidation of the global ship supply industry
For more than a decade it has been part of Wrist’s strategy to take a leading role in the global consolidation of a traditionally fragmented ship supply industry, typically composed of locally based and often family-owned businesses. Consequently, Wrist is continuously examining various opportunities for further growth, including acquisitions as well as start-ups.
More recent expansions of the Wrist Group’s activities include the acquisition of Garrets International in 2016 and the starting-up of new branches in Hamburg and in Las Palmas, also in 2016. In 2017 Wrist added an office in Shanghai, to a large extent targeting new built vessels needing a broad spectrum of provisions and stores before delivery from shipyards to the ship owners.
The consolidation of Wrist and Klevenberg brings together two financially healthy companies. The transaction is expected to enhance efficiency and customer service. The two parties have, however, agreed not to disclose financial details. Wrist Ship Supply will be the continuing legal entity.
Source: Wrist Ship Supply