H.I.G. Capital News

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Jeff Zanarini
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jzanarini@higcapital.com

Parashar Ranade
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Ship Supply International, an H.I.G. Capital Portfolio Company, Completes the Acquisition of R.S. Stern

MIAMI – June 29, 2016 – H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with over $20 billion of equity capital under management, is pleased to announce that its portfolio company, Ship Supply International (“Ship Supply”), a global port logistics business, has acquired R.S. Stern, Inc. (“R.S. Stern” or the “Company”). The transaction represents Ship Supply’s second acquisition in the last six months.

Headquartered in Baltimore, Maryland, R.S. Stern is America’s oldest ship chandler with a tradition of dedicated customer service and a strong presence across the Mid-Atlantic region. Founded in 1870, the Company has provided customized, last-mile logistics services to supply critical perishable goods and required deck & engine products to commercial vessels for over 140 years.

“We are excited to strengthen our presence and to further expand our operations along the U.S. East Coast,” commented Bruce Margolin, Chief Commercial Officer of Ship Supply. “R.S. Stern has had a long history of success and provides Ship Supply with a highly complementary geographic footprint, product portfolio and customer base. With the acquisition, we look forward to continuing to execute our strategy of developing a global platform for commercial port logistics services by partnering with regional market leaders that share our commitment to providing best-in-class customer service.”

Jeff Zanarini, a Managing Director at H.I.G., commented, “R.S. Stern augments our recent acquisition of Alliance Supply Management and continues the rapid growth trajectory of the Ship Supply platform. The transaction demonstrates our commitment to the maritime logistics sector and is another example of our ability to find and quickly execute on high-quality assets that support Ship Supply’s global strategy to set new standards of excellence for its clients.”

About R.S. Stern
Headquartered in Baltimore, Maryland, R.S. Stern is a full service ship chandler that provides provisions, cabin equipment, bonded stores and deck & engine supplies to clients throughout the Mid-Atlantic region. With a history dating back to 1870, R.S. Stern combines its long-standing relationships with premier specialty suppliers & distributors with its logistics expertise to provide time-sensitive, customized port logistic solutions. R.S. Stern is committed to providing great service, quality merchandise and one-stop shopping to support all its maritime clients.

About Ship Supply
Headquartered in Miami, Florida, Ship Supply has provided high quality goods and services to the maritime industry for nearly fifty years. The Company offers reliable port logistic services 24 hours per day / 7 days per week with the expertise to cater to the specific needs of a diverse set of specialty vessels and end-markets. Ship Supply offers seamless service to customers at over 100 domestic and international ports. The Company’s technologically-advanced capabilities and multi-lingual staff serves as the critical line of communication with vessels and crew to provide its clients a comprehensive solution for in-port requirements.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $20 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. Other H.I.G. funds invest in various real assets, including real estate and shipping.

Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.