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Zeaborn takes over E.R. Schiffahrt

Shipping fleet expanded to over 165 vessels under management

The ZEABORN Group has acquired 100 per cent of the business shares in E.R. Schiffahrt GmbH & Cie. KG ("E.R. Schiffahrt"). With retrospective effect from 1 January 2018, E.R. Schiffahrt's management, staff and subsidiaries, including the shipbroker Harper Petersen & Co., will be integrated into ZEABORN Group. The relevant contracts were signed by the transaction parties on 1 February 2018. The completion of the transaction is subject to antitrust clearance. The parties have agreed to keep the key financial data confidential.

With the takeover of E.R. Schiffahrt, ZEABORN has achieved another important milestone on its way to becoming an integrated and globally operating shipping company in both line and tramp shipping: the shipping fleet under commercial and technical management has been expanded by 61 container vessels and 20 bulk carriers to more than 165 vessels.

Once E.R. Schiffahrt with all its subsidiaries and the shipbroker Harper Petersen have been integrated, the ZEABORN Group's employee numbers will be approximately 360 staff on shore and more than 5,000 staff at sea. Having locations in Asia, Europe and the US, the company has a global presence.

"We are very pleased that in E.R. Schiffahrt we were able to add a well-known shipping manager to our group of companies, which is a great fit for our portfolio and with whom we can further optimise our services for our customers. Our customers require flexibility, reliability and optimal transport solutions. With this fleet expansion, we can further improve both quality and quantity of our products and services to the benefit of our customers. Our approach remains the same: we are an integrated shipping company that is open for partnerships and acquisitions. Going forward, we will continue to drive further growth thanks to our clear organisational structure, for example through the rapid integration of additional tonnage and businesses", explained Ove Meyer and Jan-Hendrik Többe, the ZEABORN Group's Managing Partners.

"The consolidation in the German ship management sector has has long been overdue and ZEABORN is pursuing a dynamic growth strategy. E.R. Schiffahrt is a profitable company that is extremely well managed. Combined with ZEABORN's existing activities, the company will now reach the critical size that is necessary to successfully compete on a global scale", said Jochen Klösges, CEO of E.R. Capital Holding, in reference to the transaction.