in a large number of transactions
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FORT LAUDERDALE, Fla. November 17, 2015 – Fort Lauderdale-based investment banking firm, Farlie Turner & Co., is pleased to announce the sale of Ship Supply of Florida, Inc. and its affiliates (“Ship Supply”) to H.I.G. Capital Partners, a global private equity firm based in Miami, Florida. Farlie Turner served as the exclusive financial advisor to Ship Supply. The transaction, which closed on July 31, 2015, was led by Craig Farlie, a Managing Director at Farlie Turner, in addition to Erik Rudolph, Kerensa Jimenez and Chris Henry. Terms of the transaction were not disclosed.
Based in Miami, Florida, Ship Supply is a logistics services business that provides products and maritime services to commercial and military marine vessels. The company primarily provides logistics services for perishable goods, consumables and deck/engine parts; port services, such as tug boat, docking and sewage extraction; full-service vessel management, including catering, cleaning and crew services; and fuel sourcing/brokering services. The company serves commercial ships, large passenger-carrying vessels and U.S. Navy, U.S. Coast Guard and other U.S. government/military vessels in non-Navy ports.
Ship Supply was founded by Elias Giannakopoulos in 1968 to provide ship chandlery to commercial shipping vessels. Over the last several decades, Ship Supply has expanded into a global provider of maritime logistics services. In his role as President, Christian Giannakopoulos, Elias’ son, has significantly expanded the scale and scope of the business, adding contracts with the U.S. Government and launching the company’s vessel management and fuel bunkering divisions. Both Elias and Christian will remain on the Board of Directors, and Christian will continue in his role as President of Ship Supply.
“Craig and his team provided constant transaction support and advice to my father and me throughout the process – one that was unfamiliar to us as middle market entrepreneurs,” commented Christian Giannakopoulos, Ship Supply’s President. “We are on the verge of executing on several exciting growth opportunities, and are looking forward to partnering with H.I.G. to build upon the foundation my father and I have established, including our dedicated employees, global network of vendors and world-class capabilities in maritime logistics.”
“Ship Supply has grown tremendously in the last several years, adding significant government contracts and expanding its commercial relationships and global footprint,” said Craig Farlie. He added, “Ship Supply’s success is not only an indication of the outstanding team and platform that Christian and Elias have built, but also the positive trends and global demand in the maritime logistics sector for consumables, provisions, fuel and other critical goods and services.”
About Farlie Turner
Farlie Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with FINRA, provide merger and acquisition, private placement and financial advisory services to middle market companies. Please visit www.farlieturner.com for more information.