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OB Streem Expands Its Horizons with Med Frigo Acquisition

In a significant move within the logistics sector, OB Streem, a portfolio company of H.I.G. Capital, has finalized the acquisition of Med Frigo S.A., a top player in Europe’s temperature-controlled transportation and logistics services. This merger promises to boost OB Streem's operational capabilities and market position across Southeast Europe.

Med Frigo: A Leader in Temperature-Controlled Logistics

Founded in 1991, Med Frigo has carved out a dominant position in the niche of temperature-controlled logistics in Greece, particularly in aquaculture exports. The company plays a crucial role in managing the transportation of fresh fish to various European locations, relying on its extensive network of cold-chain facilities and a fleet specialized in refrigeration. Med Frigo's robust operational model, characterized by owned infrastructure and strong client relationships, has resulted in impressive profit margins, showcasing the firm’s resilience even amidst fluctuating market conditions.

A Strategic Acquisition Move by OB Streem

The acquisition aligns with OB Streem's strategic growth plan, particularly following the recent appointment of Alexandros Karafillides as the new CEO. Karafillides, who brings over 25 years of experience in the consumer goods industry, is well-positioned to lead the expanded operations following the merger. OB Streem recently secured substantial financing from a consortium of prominent European banks to facilitate its ongoing growth, making this acquisition a timely addition to its portfolio.

Strengthening the Logistics Network

With the integration of Med Frigo into its operational framework, OB Streem is set to enhance its logistics offerings significantly. The combined entity now boasts revenues exceeding $500 million, allowing it to leverage greater operational efficiencies and optimize its logistics network. This acquisition not only broadens OB Streem's service capabilities but also expands its geographic reach in the logistics sector, making it a formidable competitor in the temperature-controlled transportation market.

Voices from the Leadership

Alexandros Karafillides, CEO of OB Streem, expressed optimism about the merger: "This acquisition marks an essential milestone in our growth journey. Integrating Med Frigo into our company will provide new opportunities for expansion in the temperature-controlled logistics arena. Together, we can enhance our service quality while fostering a commitment to operational excellence."

On the other side, Stelios Theodosiou, Managing Director at H.I.G. Realty in Europe, noted, "Med Frigo’s expertise and established logistics network are invaluable assets. The synergy between OB Streem’s existing capabilities and Med Frigo’s strengths creates a unique logistics platform. Our teams are eager to explore the abundant opportunities that lay ahead."

About OB Streem and H.I.G. Capital

OB Streem stands out as Greece's preeminent logistics partner, recognized for both its inbound and outbound trade facilitation within the broader European and EMEA regions. The organization operates on a massive scale, encompassing 400,000 square meters of storage space, both refrigerated and dry, with a workforce of over 2,000 dedicated employees situated across eight countries.

Affiliated globally with more than 85 strategic partnerships, OB Streem connects with 44 European nations, 600 ports, and 250 airports, underpinning its logistics operations with a dedication to service quality and safety, validated by extensive certifications.

Founded in 1993, H.I.G. Capital is a highly regarded global investment firm managing $75 billion in assets. The firm's investment endeavors span various sectors, including logistics, leveraging strategic insight to foster value-driven results for its portfolio companies.

For further details about OB Streem and its expanded offerings post-acquisition, visit ob-streem.com.