US-based component products manufacturer Patrick Industries has announced the acquisition of marine manufacturing holding company Leisure Product Enterprises (LPE) for $73.5m.

The acquisition will see Patrick operate the LPE subsidiaries Marine Concepts / Design Concepts, Florida Marine Tanks, and Marine Electrical Products on a stand-alone basis under their respective brand names.

Patrick aims to strengthen its marine platform through the acquisition, which is estimated to represent more than $125m in combined annualised revenue.

Hilco Redevelopments Partners and MCM Marine Services' joint venture (JV) company SteelCoast has acquired ESCO Marine, a ship recycling and scrap processing company.

The acquisition follows the US Bankruptcy Court proceedings and MCM’s acquisition of ESCO Marine’s former ship recycling and scrapping operations.

"Maersk Line has announced that it has obtained board members’ approval for the aquisition of Hamburg Süd for €3.7bn under a cash and debt-free deal."

SteelCoast now owns ESCO Marine’s 70-acre ship recycling and scrap processing complex in Brownsville, Texas, as a result of the new deal.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Maersk Line has announced that it has obtained board members’ approval for the aquisition of German container shipping line Hamburg Süd for €3.7bn under a cash and debt-free deal, which is expected to be closed by the end of the year.

The board of Hamburg Süd's parent company Oetker Group has already granted approval for the deal, and this was followed by a sale and purchase agreement between the two parties in March.

This latest acquisition brings the Maersk's combined fleet to a total of 743 container vessels, while the container capacity of the two companies will be approximately 3.9 million twenty-foot equivalent units (TEUs).