#USA #H.I.G. Capital #London #OB Streem #Med Frigo

OB Streem Acquires Med Frigo: A Strategic Move in Logistics

In a significant development in the logistics sector, OB Streem, a company under the umbrella of H.I.G. Capital, has officially finalized the acquisition of Med Frigo S.A., a prominent provider of temperature-controlled logistics services in Europe. This strategic acquisition is poised to bolster OB Streem's position within the market and enhance its operational capabilities, reflecting a robust commitment to growth and excellence in service delivery.

Founded in 1991, Med Frigo has established a stronghold in the temperature-controlled logistics domain, becoming a key player in the export of aquaculture products from Greece. The company serves top aquaculture producers, facilitating the transport of fresh fish exports across Europe via its proprietary cold chain infrastructure and fleet of refrigerated vehicles. Med Frigo's operational model successfully integrates a self-owned infrastructure, optimized fleet logistics, and longstanding customer relationships developed over three decades, allowing it to maintain impressive margins and resilience throughout market fluctuations.

The completion of this acquisition signifies a strategic shift for OB Streem, particularly following the appointment of Alexandros Karafillides as the new CEO. With over 25 years of international experience in the consumer goods industry, Karafillides is expected to drive performance and innovation within the group. Furthermore, OB Streem has secured a significant financing agreement with a consortium of major European banks, enabling a sustained path for expansion.

As an entirely integrated logistics platform, OB Streem operates on key European trade routes, offering a comprehensive suite of services that includes temperature-controlled storage, ambient warehousing, container parks, outdoor storage, as well as freight shipping and transport services. The integration of Med Frigo will not only enhance its temperature-controlled transportation capabilities but also expand OB Streem’s geographical reach across the region.

With a revenue surpassing $500 million, the operational synergies resulting from this merger are expected to yield greater efficiency, optimized networks, and enhanced client relations in key markets. Alexandros Karafillides emphasized that the acquisition marks a critical milestone for OB Streem in its growth journey. By incorporating Med Frigo into its fold, the company aims to broaden its spectrum of solutions, create new growth opportunities, and strengthen its capabilities in temperature-controlled logistics. He stated, “Our shared commitment to operational excellence and high-quality service is building an even stronger company, reinforcing our reference position in the logistics sector across Southeast Europe.”

Stelios Theodosiou, Managing Director of H.I.G. Realty in Europe, highlighted Med Frigo’s invaluable expertise and logistics network in temperature-controlled handling. “Leveraging OB Streem’s existing infrastructure and capabilities, we are creating a unique platform poised for significant opportunities. We look forward to collaborating closely with Alexandros and both management teams to capitalize on this potential,” he remarked.

About OB Streem

OB Streem is acknowledged as the largest end-to-end logistics partner in Greece, with a significant footprint across Southeastern Europe. The company serves as a strategic gateway for trade flows to and from Europe and the entire EMEA region. With 400,000 square meters of ambient and refrigerated warehouse space and more than 2,000 employees distributed across eight countries, OB Streem offers a full spectrum of integrated logistics solutions.

The company’s international network, facilitated by over 85 strategic partnerships worldwide, spans access to 44 European countries, over 600 ports, and 250 airports. OB Streem's adherence to 25 certifications concerning quality management, safety, security, and operational excellence underlines its unwavering commitment to quality service provision. More information can be found at ob-streem.com.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $75 billion of capital under management. Headquartered in Miami with additional offices throughout the United States and internationally in cities like London, Madrid, and Hong Kong, H.I.G. specializes in providing debt and equity capital to middle-market companies, employing a flexible and value-added approach in its investments. Since its inception in 1993, H.I.G. has invested in over 400 companies worldwide, showcasing a portfolio with 100+ businesses and a cumulative revenue surpassing $53 billion. For further details, visit hig.com.