UK’s Inchcape snaps up a big stake in Norway’s Leth Suez Transit

UK-based port agency and marine services provider Inchcape Shipping Services has acquired an undisclosed significant stake in Norwegian transit agent Leth Suez Transit, according to a statement. Inchcape did not disclose the financial value of the acquisition.

About Leth: Established in 1924 as a bunker supplier in Egypt, Leth has developed into a globally recognized transit agent, managing upwards of 200 transits per month in the Suez Canal. Inchcape Shipping Services is a portfolio company of private equity player Epiris, it represents clients at over 85% of the world’s ports across 60 countries, the statement said.

It will be business as usual: The move will see Leth CEO Otto Jervell (Linkedin) continue to head the company as part owner. The makeup of Leth’s team and its current operations are set to be unaffected by the transaction, the statement notes.

Both companies stand to gain: The acquisition will see Leth benefit from Inchape’s infrastructure and digital transformation knowhow, boosting the company’s plans for global expansion. Inchcape will in turn benefit from Leth’ brand strength, customer portfolio, and solution-based value proposition, the statement notes.