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

H.I.G. Capital's Acquisition of Med Frigo

In a significant move to strengthen its logistics capabilities, H.I.G. Capital's portfolio company, OB Streem, has completed the acquisition of Med Frigo S.A., a leading provider of temperature-controlled transport and logistics services in Europe. This acquisition not only marks a pivotal moment for OB Streem but also enhances its operational reach across the continent.

Founded in 1991, Med Frigo has carved out a prominent position in temperature-controlled logistics, especially within the Greek aquaculture export market. By providing refrigerated transport of fresh fish across Europe, Med Frigo has established a network comprising both cold chain facilities and a dedicated fleet of refrigerated trucks. This integrated operational model, which combines proprietary infrastructure with optimized return logistics, has allowed Med Frigo to consistently achieve strong margins and exhibit resilience through various market cycles.

The acquisition comes at a time when OB Streem is making strategic advancements, including the recent appointment of Alexandros Karafillides as Chief Executive Officer. With over 25 years of international experience in the consumer goods sector, Karafillides has held executive roles in Greece and beyond. Furthermore, the group has secured substantial financing from a consortium of leading European banks to support its expansion efforts.

OB Streem functions as a comprehensive logistics platform operating along key European trade corridors. It offers various services including cold storage, ambient storage, container depots, outdoor storage, freight forwarding, and transport. With the addition of Med Frigo, OB Streem further bolsters its capabilities in temperature-controlled logistics and enhances its geographical footprint. The combined entity will leverage a revenue base exceeding $500 million, thereby improving operational efficiencies and optimizing its network while strengthening customer relationships in core markets.

Karafillides commented on the deal, stating, "The acquisition of Med Frigo is a significant milestone for OB Streem as we continue on our growth journey. Integrating Med Frigo into our organization will broaden our service offerings, create new growth opportunities, and enhance our capabilities in temperature-controlled transport and logistics. Our shared commitment to operational excellence and high-quality service will enable us to build an even stronger organization and reinforce our position as a leading player in the logistics sector in Southeastern Europe."

Adding to this, Stelios Theodosiou, Managing Director at H.I.G. Realty in Europe, highlighted Med Frigo's in-depth expertise and network in temperature-controlled logistics. "Together with the existing infrastructure and capabilities of OB Streem, we have created a unique platform that positions us to capitalize on the significant opportunities ahead," he said.

About OB Streem

OB Streem is recognized as Greece's largest end-to-end logistics partner, with a strong presence in Southeastern Europe. Acting as a strategic gateway for both inbound and outbound trade to Europe and the wider EMEA region, the company operates with 400,000 square meters of dry and cold storage space, employs over 2,000 personnel, and spans eight countries. OB Streem's extensive portfolio of integrated logistics solutions is accessed through a global network of over 85 strategic representative partners.

The company is dedicated to delivering quality and operational excellence, as evidenced by its 25 certifications in quality management, safety, security, and business excellence. To learn more about OB Streem, visit ob-streem.com.

About H.I.G. Capital

H.I.G. is a leading global alternative investment firm with $75 billion in capital under management. Based in Miami, H.I.G. has offices across the United States and internationally. The firm specializes in providing debt and equity capital to mid-sized companies through a flexible, operationally-focused approach. H.I.G. has invested and managed over 400 companies since its inception in 1993, with over 100 companies currently in its portfolio, totaling more than $53 billion in revenue. For additional information, please visit hig.com.