Inchcape takes majority stake in Suez transit specialist Leth
Written by Marine Log Staff
Leth CEO Otto Jervell will continue to lead the company as part owner
Inchcape Shipping Services, a portfolio company of private equity fund Epiris, reports that it has taken a majority share in Leth Suez Transit Ltd AS (Leth).
Leth, with roots that go back to its beginnings in 1924 as a bunker supplier in Egypt, has grown into a leading transit agent, currently handling and over 200 transits per month in the Suez Canal and now cover other transit locations, including the Panama Canal, the Turkish and Danish Straits, and key bunkering locations such as Singapore and Gibraltar.
Under the new ownership structure, Leth CEO Otto Jervell, will continue to helm the company as a part-owner.
“With such an investment, we will be able to follow our strategy and take Leth to the next level, becoming the leading global transit agent,” he said, assuring stakeholders that all operations would continue seamlessly with the same operating philosophy and team.
Inchcape Shipping Services represents clients in over 85% of the world’s ports across 60 countries through its network of 247 owned offices. Leth will leverage Inchcape’s global infrastructure, digital capabilities, and adherence to global standards and processes under its own brand.
“From the very first engagement, Jervell and his team have left me with a very strong impression,” said Inchcape Shipping Services CEO Philippe Maezelle. “Their client and service focus is second to none and very much setting the industry benchmark. Our team and I feel privileged to be able to work together and continue to develop meaningful value propositions for our customers. I am extremely excited to see our true joint potential benefit our partners around the world!”
