Eimskip acquires 51% stake in CSI Group LLC
Eimskip has strengthened its position with an acquisition of a 51% stake in CSI Group LLC (Container Services International), a company with headquarters in Boston, USA, specialized in the re-marketing of container and shipping related assets. With the acquisition, Eimskip is tapping into a great know-how in container purchasing, leasing and trading of second hand units. The investment is around EUR 1.0 million.
CSI was founded in 2011 and is managed by Stephan Howard, who has 25 years of experience in the container industry and has an extensive network of contacts with a worldwide reach and expertise. CSI and its associates maintain stocks in various locations around the USA. Stephan Howard will remain as a 49% shareholder in CSI and will lead the company as a general manager.
CSI specializes in selling and leasing new and used containers both for storage and shipping and in selling specialized container equipment. CSI also provides consulting services for the container trade. The annual turnover of the company is around EUR 5 million with an EBITDA margin of approximately 10%.
About Eimskip
Eimskip is a leading transportation company in the North Atlantic with connections to international markets and is specialized in worldwide freight forwarding services, with the vision of providing excellence in transportation solutions and services. Eimskip was founded in 1914 and is a publicly traded company with its shares listed at Nasdaq Iceland. The company runs a network of 61 offices in 20 countries, operates 21 vessels and has around 1,700 employees.
