Transaction: Acquisitions
Date: January 2010
Deal value: Not disclosed
Process: Private auction
Industry: Logistics and commercial services

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Wrist Group is one of the world’s largest ship services companies. Wrist Ship Supply, one of its three operating divisions, is one of the world’s top three global providers of ship supply services providing customers with all types of ship chandlery products and services worldwide. Wrist Group is owned by the private equity firm Altor.

One Source North America is the largest ship supply organisation in North America covering all major regions through the four operating entities World Ship Supply, West Coast Ship Supply, East Coast Ship Supply and Karlo Group. The group has a turnover of approx. USD 120 million and 259 employees.

The move represents the largest deal in the Wrist Group’s corporate history. The acquisition marks Wrist Ship Supply’s fifth deal in the past 12 months and provides the organisation with a major footprint into the US and Canadian markets with a presence in 13 key locations. It will enable the company to offer its customers real understanding and expertise of the local market. Conversely, OneSource North America customers will benefit from the international scale of Wrist Ship Supply’s operations, its purchasing strength and knowledge of global procurement, as well as its advanced order and fulfilment technology. As part of the acquisition, the previous owners of OneSource North America will remain on the management team and as shareholders in Wrist Ship Supply.

The acquisition continues Wrist Group’s strategy of controlled global expansion and the Group now has a significant presence in all key global regions in Europe, The Far East, Middle East and the Americas.