EMEA News
Sea Bunkering International Acquisition by Kaeline a "Perfect Fit"
Netherlands-based Sea Bunkering International (SBI) has been acquired by Kaeline Group Ltd (Kaeline) in a move SBI Managing Director Dave Gregory has called a "perfect fit."
"They are a Mediterranean-based company, we are a North Western European company, so the jigsaw pieces fit together very nicely. For our customers, this is a very positive story as it maintains the true independence of SBI as a trade house, and that's key for the market place," Gregory told Ship & Bunker.
"SBI is 27 years old and has proven to be a strong and reliable partner through a range of market conditions. The acquisition makes us even more optimistic about the coming years and it gives us a great diversity of tools to draw upon as we take SBI into its 30's."
Kaeline, meanwhile, said the acquisition offers "unique synergies" with an opportunity to bolster its physical presence in the North European markets.
"SBI is an internationally recognised supplier of quality products, servicing clients across the globe. The skill set that this acquisition brings on board will strengthen our aim to increase Lubricant and Bunker volumes across all our brands and markets," commented Adamos Seraphides, Managing Director, Kaeline Group Ltd.
"The customer-centric approach of Dave Gregory, Iwan van der Leest, and their team, has built a loyal customer base that mirrors our personal approach within Kaeline Group Ltd. Finally, 'SBI' fits strategically with the objectives of Kaeline Group Ltd. We are excited in concluding the integration and we will continue with the company's expansion."
Kaeline is understood to be a 50:50 joint venture with Bunker Holding and part of the Limassol-headquartered Fameline Holding Group, with initial talks over the deal having begun some six months ago.
"I'm looking forward to working with the people at Kaeline who are extremely professional and very well connected. My colleagues are all delighted and having met the shareholders we can already see a chemistry developing," Gregory concluded.
