Owner and operator of chemical tankers John T. Essberger has inked a deal with Nordic Tankers and Embarcadero Maritime, a joint venture between Borealis Maritime and KKR, to acquire their jointly held company Crystal Nordic.
Crystal Nordic was established following the combination of Nordic Tankers’ inter-European stainless steel chemical tanker business with Crystal Pool in 2015.
The Danish headquartered chemical tanker operator owns 14 ships ranging between 4,000 and 12,000 dwt.
Managed by Jan Eghøj, the company is owned 50/50 by Nordic Tankers and Embarcadero Maritime.
Nordic Tankers is a Triton Fund III Portfolio Company.
The parties said that they agreed not to disclose any financial information related to the deal.
Hamburg-based Essberger Tankers has a fleet of 23 vessels capable of carrying a wide range of different chemicals.
“We are of the opinion that John T. Essberger will be a very good owner of Crystal Nordic and thus enhance the service and flexibility offered to the customers,” Per Sylvester Jensen, Chairman of Crystal Nordic said.
Details regarding what led to the decision to sell the company were not disclosed.