Investment firm HCI Capital has taken over Hamburg-based shipping company Ernst Russ GmbH & Co., with its fleet of seven container and four ro/ro vessels.
HCI Capital has taken over Hamburg-based shipping company Ernst Russ GmbH & Co.
The German investment firm earlier this year acquired a majority shareholding in the König & Cie, with a goal to expand its managed fleet and maritime services.
Founded in 1893, Ernst Russ GmbH & Co. is one of the oldest shipping companies in Hamburg. The company manages a fleet of seven container and four roll-on/roll-off vessels and has investments in a number of companies, including shipyard agency CombiTrade and Ernst Russ Shipbroker GmbH & Co.
With this acquisition, HCI will now have more than 40 ships under direct management and over 180 fund vessels managed by other shipping partners.
The acquisition of Ernst Russ GmbH & Co. is taking place by means of a capital contribution in kind, which will increase the share capital of HCI Capital by just over 6.2 million euros to about 32.4 million euros.
HCI Capital buys German shipping company
