Maersk Broker has continued its expansion drive with the acquisition of offshore brokerage Kennedy Marr Group.
The purchase of the subsea and specialist vessel firm is part of Maersk Broker’s strategy to grow its offshore business, says senior vice president Henrik Franck.
“Kennedy Marr is a top quality brokerage firm, and a perfect match to our existing offshore platform,” Franck said in a statement today.
“We are enthusiastic about this acquisition and look forward to integrating the two companies to the benefit of all our clients as well as creating new opportunities for our employees.”
Kennedy Marr was established in 1974 and has operations in London, China and Singapore.
Franck adds its focus in the subsea and specialist markets matches well with Maersk Broker’s traditional offshore specialism in the AHTS and PSV sectors.
Kennedy Marr managing director Mark Pasha will remain in the post, reporting to Maersk Broker global head of offshore Finn Essendrop.
“Combining two stalwarts of the offshore industry with traditional values provides for a unique opportunity for our clients to experience a truly one stop shop covering all aspects of offshore marine asset procurement,” Pasha said.
“Becoming part of the Maersk Broker family secures Kennedy Marr a solid foundation going forward.”
Essendrop says Maersk Broker has been growing its offshore focus since entering the market in 2011.
“Growth of our offshore activities has been a strategic focus in Maersk Broker since 2014 and is a well-established own business activity,” Essendrop told TradeWinds.
Following the Kennedy Marr deal Maersk Broker will have close to 20 dedicated offshore brokers across six offices.
“This gives us a strong presence in the market whilst still offering room for further growth in number of brokers and activities,” Essendrop added.
“We have found our space in the offshore market and remain ambitious about our development.”
Essendrop says 2016 was the division’s most successful year and saw the conclusion of 30 sale and purchase transactions and six newbuilding orders.
“This acquisition enables us to take a further leap in our growth aspirations, and we look forward to bringing our expanded service and value add to our combined client base,” Essendrop said.
Today's move extends a busy year for Maersk Broker, which has been actively building up its dry cargo and research offerings.
Last week it took full control of Lanic, in which it first invested in March 2016.