Triton picks up Nordic Tankers business

The business, valued at $30m, will be combined with Triton portfolio company Herning Shipping, which was acquired in June 2011.

The new entity will operate under the Nordic Tankers brand, and own around 120 chemical tankers. The previous Nordic Tankers will be rebranded as Nordic Shipholding and operate as a tonnage provider.

Partner Björn Nilsson commented that the acquisition forms part of a consolidation strategy in the chemical tanker industry.

Company
Nordic Tankers' chemical business owns nine vessels, charters six vessels, and holds around 70 vessels under commercial and pool management. Based in Copenhagen, Denmark, it employs 140 staff.

Its parent company, the previous Nordic Tankers, was founded in 1984 and has recently been under financial pressure due to its high debts and declining business volumes.

People
Partner Björn Nilsson worked on the deal for Triton Partners. Current Nordic Tankers CEO Tommy Thomsen will retain this position in the new entity.

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