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

OB Streem Completes Acquisition of Med Frigo

In a significant move, OB Streem, a portfolio company of H.I.G. Capital, has successfully acquired Med Frigo S.A., a prominent player in temperature-controlled logistics in Europe. This acquisition is a strategic milestone that aligns with OB Streem's goal of enhancing its logistics services portfolio and expanding its geographical footprint.

Founded in 1991, Med Frigo has established itself as a leading provider of temperature-sensitive transport and logistics services, particularly in the Greek aquaculture sector. With a robust network of cold chain facilities and a fleet dedicated to delivering fresh fish exports across Europe, Med Frigo has built strong relationships with major aquaculture producers in Greece, enabling them to thrive in a competitive market.

The company has showcased resilience through various market cycles, consistently achieving high margins due to its integrated operational model. This model combines proprietary infrastructure with an optimized transport system, further cementing Med Frigo's reputation as a reliable logistics partner over the past three decades.

Recent changes within OB Streem have paved the way for this acquisition. The appointment of Alexandros Karafillides as the new CEO brings over 25 years of international experience in the consumer goods sector, positioning the company for future growth. Alexandros’s vision includes expanding OB Streem's operations by integrating Med Frigo’s expertise, which will enhance the company’s offerings and uncover new growth opportunities in temperature-controlled logistics.

To bolster this expansion, OB Streem has successfully secured significant funding from a consortium of leading European banks, ensuring financial stability and support for operational integration.

As one of the largest end-to-end logistics providers in Greece, OB Streem operates across key European trade corridors, offering a comprehensive range of services that include cold and ambient storage, container depots, and transportation. The acquisition of Med Frigo not only enhances the company's capabilities but also positions it to optimize its operational efficiencies within the booming temperature-controlled logistics sector.

Med Frigo’s integration is expected to facilitate new solutions that will drive operational excellence and service quality. Alexandros stated, "The incorporation of Med Frigo represents a crucial step in our growth strategy. It not only enhances our service offerings but also strengthens our commitment to delivering high-quality logistics solutions across Southeast Europe."

Moreover, Stelios Theodosiou, Managing Director of H.I.G. Realty in Europe, praised Med Frigo’s unrivaled expertise in temperature-controlled logistics. This acquisition aims to create a robust platform that leverages OB Streem's existing networks, forging a potent partnership that effectively addresses the rising demand for quality logistics services in the region.

With an annual revenue exceeding $500 million, the newly merged platform is well-equipped to enhance operational efficiencies, optimize logistics networks, and deepen customer relations in key markets. The strategic synergy created by this acquisition is anticipated to catalyze growth and bolster OB Streem's position as a market leader in the logistics industry, specifically within the aquaculture sector.

As OB Streem embarks on this new chapter, the company is focused on ensuring a seamless integration process for Med Frigo, with an unwavering commitment to operational excellence and the delivery of superior services to its clients. This acquisition is a testament to OB Streem’s vision in becoming a transformative player in the logistics landscape of Southeast Europe, setting a high benchmark in the logistics industry.