Seacor Holdings, a portfolio company of American Industrial Partners, reports that it has concluded the sale of its Caribbean liner and logistics business Seacor Container Lines (Seacor Island Lines) to King Ocean Services, a Florida-headquartered transportation and logistics provider.
The transaction includes all operations and assets, but the two companies have not disclosed any financial information yet.
King Ocean specializes in marine transportation and logistics solutions to close to 50 destinations across the Caribbean and South and Central America out of their Port Everglades facilities in Ft Lauderdale, Florida.
Eric Fabrikant, chief executive of Seacor Holdings, said: “For 40 years, King Ocean, a multi-generational, family-owned business has built a strong reputation for safety, reliability, and trust amongst its people and customers.
“As the next stewards of Seacor Island Lines, King Ocean has the values, vision, and resources to meaningfully invest in the Company’s future and create lasting opportunities for development and growth.”
Fort Lauderdale-based in Florida, Seacor Island Lines serves as a critical marine gateway to nearly 30 destinations across the Bahamas and Turks & Caicos transporting a range of containerized and refrigerated cargoes, break bulk, and heavy equipment via weekly liner and charter service.
Seacor acquired Seacor Island Lines, formerly G&G Shipping, in 2011 and over the years modernized the fleet and enhanced the company’s operations and management team.
Jose Da Costa Gomez, president and chief executive King Ocean, pointed out that: “Seacor Island Lines not only vastly enhances our existing platform adding new end-markets and marine and shoreside infrastructure, but also augments our team with highly qualified transportation and logistics professionals.
“I would like to recognize Eric Fabrikant and Seacor Island Lines’ chief executive officer Daniel Thorogood for their strong governance and management of business as well as welcome our former colleague Charles Gittens back to King Ocean as he continues in his role as president.”
“Having served at the helm of Seacor Island Lines for nearly 13 years, I can say with confidence that the Company has a bright future with King Ocean, a legacy provider in our core markets,” said Daniel Thorogood.
