MSC to Acquire Towage Operator Rimorchiatori Mediterranei
Swiss-headquartered shipping giant MSC Mediterranean Shipping Company SA continues to expand with an agreement to acquire towage provider Rimorchiatori Mediterranei.
The company announced Sunday a deal through its wholly owned subsidiary SAS Shipping Agencies Services Sàrl to acquire 100% of the share capital of Rimorchiatori Mediterranei S.p.A. from Rimorchiatori Riuniti and a fund managed by DWS’s Infrastructure Investment business.
Completion remains subject to the receipt of approvals, including from the relevant competition authorities, and deal terms are not disclosed.
Diego Aponte, MSC Group President, said, “We are very pleased to be able to become part of the exciting next phase for growth and improvement at Rimorchiatori Mediterranei and we look forward to continuing to expand the business, building on the impressive work of the families that developed the company these past 100 years.”
Rimorchiatori Mediterranei is an international company with a fleet of more than 100 tugs active in Italy, Malta, Singapore, Malaysia, Norway, Greece and Colombia.
Gregorio Gavarone, Executive President of Rimorchiatori Riuniti, said, “We believe Rimorchiatori Riuniti, together with DWS, has done an incredible job over the past few years to support Rimorchiatori Mediterranei in becoming one of the leading towage companies in the world. Thanks to its global network in shipping and port operations, we think MSC is going to be the ideal investor to accompany Rimorchiatori Mediterranei towards its next growth chapter.”
Hamish Mackenzie, Head of Infrastructure at DWS, said, “The evolution of Rimorchiatori Mediterranei has been a considerable success story for DWS; we are grateful for the strategic partnership we developed with Rimorchiatori Riuniti and its shareholders, and we are proud to have supported our industrial partner in managing and growing Rimorchiatori Mediterranei to become one of the global leaders in the harbour towage sector.
“We thank Rimorchiatori Mediterranei’s management team for their work to keep the ports we serve safe and efficient, and for the outstanding energy and vision they have shown in transforming this business into a truly global player. With MSC, Rimorchiatori Mediterranei has found a partner which shares their drive and ambition for continued growth, and we are confident both parties will continue to deliver the full potential of Rimorchiatori Mediterranei.”
UniCredit acted as financial advisor, KPMG as accounting and tax due diligence advisor and Chiomenti as legal advisor to MSC, whilst Lazard acted as financial advisor together with Pedersoli and Legance as legal advisors to Rimorchiatori Riuniti and DWS.
