Singapore-based feeder container ship company Bengal Tiger Line (BTL) has been sold to HICO Investment Group, a trust owned by the Hartnoll family, owners of larger competitor X-Press Feeders.

The timing of the deal, when the container sector is riding the crest of an unprecedented wave, is believed to have resulted in a cash windfall for private equity group CMIA Capital Partners, which acquired the company from joint owners Transnaval Schiffahrts and Schoeller Holdings in 2018.

Pricing details, though, remain under close wraps.