Bayside Capital, a unit of US private-equity investment group HIG Capital, has revealed it is behind the acquisition of a fleet of 20 stainless-steel chemical tankers worth $800m that has been put together with commercial manager Celsius Shipping.
The credit and distress-investment arm of HIG, has purchased six tankers from Japanese owners and ordered up to 14 vessels in China during this year and 2013, and plans to expand further before possibly going public.
