Wrist Group News

Danish ship supplier Wrist Ship Supply acquires Belgian competitor Van Hulle in order to strengthen its position in Belgium and the Netherlands.According to a press release from the supplier of provision and stores to ships and offshore installations, while Van Hulle will continue operating as a stand-alone business unit, this enhances their market presence and service offering and marks yet another important step in the steady development of Wrist’s global network.With the acquisition of Van Hulle, Wrist Ship Supply now adds Belgium to its global footprint expanding its presence in the ARA market. Robert Kledal, CEO in Wrist, said:…

Private equity co Altor plans to partly sell holding; OW Bunker FY net up almost 50 pct at $63.4 mln. Revenue up more than 20 pct at $16.99 billion. Danish ship fuel supplier OW Bunker plans an initial public offering (IPO) of shares in Copenhagen, it said on Wednesday, confirming what sources familiar with the matter had told Reuters on Monday. The company, which has a share of around 7 percent of the global shipping fuel market, said it planned to sell new stock as well as some of the shares owned by its major shareholder, private equity group Altor. It did not say how much it planned to raise. The company also posted full-year 2013 results showing revenue up more than 20 percent to $16.99 billion and net profit up almost 50 percent to $63.4 million.

Danish ship fuel supplier OW Bunker aims to publish plans for a stock market listing this week, three sources familiar with the matter told Reuters on Monday. "The plan is to be listed before Easter," one source said, adding that Morgan Stanley, Carnegie, Nordea and ABG would lead the IPO. Two other sources said an intention to float letter will be published later this week. Private equity group Altor has owned OW Bunker since buying its parent Wrist Group in July 2007. No indication was given on the price Altor paid, although local media said that it could have been anywhere between 1 and 2 billion Danish crowns ($182-364 million). "An exit may well come in the foreseeable future," Altor's head of Danish activities Soren Johansen told Reuters in January.

Dynamic Oil Trading launched to meet the fast paced demands of the shipping industry – without limitations. Wrist Group, one of the world’s leading ship services companies, has announced the launch of Dynamic Oil Trading, a new global trading company for marine fuels and lubricants. Headquartered in Singapore, Dynamic Oil Trading will work with all aspects of the shipping industry, building close relationships with ship owners, operators, brokers, traders and suppliers. The company is well financed and has an ambitious growth strategy with plans for further expansion in Asia, Europe and the Americas. Dynamic Oil Trading is headed by Lars Møller, who has 16 years’ bunkering experience.

Wrist Ship Supply, one of the world’s largest ship supply companies, today announced the acquisition of Strachans Ltd, the UK’s leading independent food distributor to the offshore catering market. This represents Wrist’s sixth deal in less than two years following acquisitions in Europe, America and Canada. The agreement combines Strachans’ specialist offshore market knowledge with Wrist’s global network, worldwide infrastructure and financial strength and provides the foundation…

Wrist Ship Supply, part of the Wrist Group, announced the appointment of Robert Steen Kledal as its new Managing Director. Kledal joins Wrist Ship Supply from Maersk Line where he was a Senior Vice President in the head office in Copenhagen. He has worked for A.P. Moller-Maersk for 21 years and operating all over the world, including Asia, America and Europe. Over the past few years the company has completed over five acquisitions in Spain, France, Norway, The Netherlands and most recently the U.S. where it acquired OneSource, the largest ship supply company in America, and the biggest deal in the company’s history. This is in addition to significant investment in the company’s entire infrastructure…

Wrist Ship Supply, part of the Wrist Group, announced the acquisition of World Ship Supply, West Coast Ship Supply, East Coast Ship Supply and Karlo Corporation – collectively known as One Source North America - the largest ship supply organization in North America. The move represents the largest deal in the Wrist Group’s corporate history, and provides the organization with a major footprint into the U.S. and Canadian markets. The acquisition marks Wrist Ship Supply’s fifth deal in the past 12 months, and continues Wrist Group’s strategy of controlled global expansion. The Group now has a significant presence in all key global regions in Europe, The Far East, Middle East and the Americas. OneSource has a turnover of $120m and employs 259 people.