Intermarine’s major shareholder and its former chief executive are parting company with the The Zeaborn Group eight months after a deal which created one of the world’s largest MPP carriers.
New Mountain Capital, which became the largest investor in Intermarine after the death of founder Roger Kavanagh, has sold its remaining interest to Zeamarine to its parent company, it was announced today.
At the same time industry veteran Andre Grikitis, who had led Intermarine as both chief executive and chairman over 25 years, is now set to depart.
Today’s statement said Grikitis was leaving with the integration of the legacy companies ahead of schedule to spend more time with his family and pursue other business interests.
New Mountain and Zeaborn moved to combine Intermarine, Zeaborn Chartering and Rickmers-Line last October in a deal that is still awaiting antitrust approval.
Grikitis joins Ulrich Ulrichs, Isabelle Rickmers and Nils Aden in having exited the rapidly growing Zeaborn Group in the past few months.
Ove Meyer, managing partner of Zeaborn, will be leading Zeamarine, with chief operating officers Dominik Stehle and finance chief Michael Dumas other key figures.