Stolt-Nielsen S.A, the Norwegian provider of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids, has announced that it has signed an agreement to acquire the tank container operations of Germany’s Taby Group.
Oslo-based Stolt-Nielsen provides a range of transportation and tank services and the deal to acquire operations of the Taby Group is seen as a perfect business fit.
The Taby Group, with annual turnover of around $120m, is a privately held company headquartered in Hamburg, Germany. The company currently operates a fleet of approximately 5,000 tank containers, including many specialised units for aggressive or high-purity products, and for compressed liquefied gases and cryogenics.
Taby operates primarily in Europe, the US, South East Asia, China and Taiwan, and is currently focused on the development of emerging markets in Turkey, India, the Middle East and Brazil.
Commenting on the transaction, Michael W. Kramer, President of Stolt Tank Containers, said, “The Taby Group is a well-managed company with a strong reputation for safety, quality and good service. The acquisition will expand both our specialised service capabilities and our global network.”
“Taby’s customers can expect a completely seamless transition, as we are fully committed to maintaining the strong long-term customer relationships that Taby has built over many successful years in business.”
Konrad Strauss, Managing Director of Taby Group, said, “We are pleased to have reached this agreement with Stolt Tank Containers. Our unique service concept and geographic focus strongly complement the capabilities of STC. Our customers, in turn, will have access to broader markets, and our employees will benefit from being part of a successful and growing organisation with a substantially larger global reach.”
The transaction is expected to close in the fourth quarter, subject to the approval of German regulatory authorities, concludes a report from media agency eMediaWorld.