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Inchcape Shipping Services

From Wikipedia, the free encyclopedia
Inchcape Shipping Services
Company typeSubsidiary
IndustryIndustrial & Business Services
Founded1847
HeadquartersLondon, England
Key people
Philippe Maezelle, CEO
ParentEpiris LLP
Websitewww.iss-shipping.com

Inchcape Shipping Services (ISS) is a British multinational ports and marine management company headquartered in London.[1] ISS became owned by London-based private equity firm Epiris LLP, having been sold by Istithmar World, the investment arm of Dubai World in 2022.[2]

History

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In 1847, William Mackinnon and Robert Mackenzie formed the Mackinnon Mackenzie Company (MMC), a general merchanting partnership based in Calcutta.[3]

In 1999 Inchcape Shipping Services was spun out and sold to private equity firm Electra Fleming.[4]

The firm, by then known as Electra Partners, sold ISS to Istithmar World, the investment arm of the government of Dubai, for $285m in 2006.[5][6]

In February 2010, the Financial Times reported that Istithmar was looking for buyers of ISS for between $600–700m.[6]

On 4 April 2022 it was announced that the ISS would be sold back to Epiris LLP, the latest incarnation of Electra Partners, for an undisclosed sum.[7][2]

Operations

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ISS has operations in 60 countries across the Americas, Asia Pacific, Europe, Middle East, South Asia and Africa.[1]

References

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  1. ^ a b "Ports & Offices". Inchcape Shipping Services. Retrieved 8 May 2022.
  2. ^ a b "Epiris announces the acquisition of Inchcape Shipping Services". Epiris. Retrieved 8 May 2022.
  3. ^ "History of Inchcape PLC". FundingUniverse. Retrieved 28 March 2015.
  4. ^ "Electra Fleming buys Inchcape Shipping Services". Buyouts. 1 March 1999. Retrieved 4 August 2023.
  5. ^ "Electra announces the sale of Inchcape Shipping Services". Electra Investment Trust PLC. Retrieved 8 May 2022.
  6. ^ a b "Private equity interest in Istithmar ISS sale". Financial Times. Archived from the original on January 8, 2015. Retrieved February 23, 2010.
  7. ^ Latham, Mark. "Epiris acquires Inchcape Shipping Services". Private Equity News. Retrieved 8 May 2022.