HCI Capital Expands Its Footprint in Shipping Industry

Ernst Russ Germany-based investment company HCI Capital has taken a further leap into the shipping industry with the acquisition of the compatriot shipping firm Ernst Russ GmbH & Co. KG. According to the company, the acquisition is taking place by means of a capital contribution in kind, which will increase the share capital of HCI Capital by EUR 6.2 million (USD 6.9 million) to EUR 32.4 million. With the acquisition of the 1893-founded Ernst Russ, HCIs managed fleet and maritime services would be expanded, as a fleet of seven container and four RoRo vessels is expected to join their new owner. Ernst Russ Shipbroker GmbH & Co. KG will strengthen its service portfolio in the brokerage segment and CombiTrade GmbH will give the group privileged access to a large network of shipyards, the company said. The acquisition of Ernst Russ GmbH & Co. KG expands our managed fleet, completes our range of maritime services and underlines the consistency with which we are pursuing our strategy, Jens Mahnke, Executive Board member at HCI Capital AG, said. The acquisition of Ernst Russ now means the HCI Group has more than 40 ships under direct management and over 180 fund vessels managed by other shipping partners.