Tuesday, 12 July 2011
On April 19th 2011, the Turkish holding YILDIRIM GROUP
entered the SEALEASE capital, providing financial strength and
management expertise.
YILDIRIM Group, a Turkish-based family owned conglomerate,
announced the acquisition of 75,11% of the Belgian Company SEALEASE
S.A., a leasing company providing unique financial solutions
dedicated to the professionals of the marine industry. The other
24,89% stake remains in the hands of the management of the Company
E-SEA SA. For YILDIRIM, this acquisition is the second investment
in the shipping and vessels operation business in Europe since
November 2010, after the injection of US$ 500 million into the
French container liner giant CMA-CGM, which provided them a 20%
share in the company.
For Sealease, the entry of the YILDIRIM Group will provide the
company with substantial financial means to respond to the growing
demand of leasing solutions and added-value services of the marine
industry across the globe.
Founded in 2006 in Brussels by four experts in both the leasing
and marine world, Sealease (www.sealease.com) has become a
household name in this B2B segment. Offering a "Full Service Lease"
product it encompasses the funding of the ships supported by a rift
of tailored added-value services (flag registration, insurance,
commissioning, maintenance, etc.) better known as
"one-stop-shipping".
The marine professionals appreciate this off-balance sheet
product where for a monthly recurring fee they can operate their
fleet during the length of the lease and focus on their day-to-day
business.
To date Sealease operates in 3 main boat segments:
1. the touristic charter market and day-charter market (mainly
sail boats),
2. the short sea passenger boat market (diesel, electrical or
hybrid), and
3. the specialized utility boat market.
In each of these segments, Sealease is multi-branded and has
contacts with all boat manufacturers which also allow providing
advice regarding the optimum brand/model for its customers.
By the end of 2010, the worth of Sealease assets grew in excess
of €11 million, owning 42 boats which are currently being operated
in Europe, Asia, and Middle East under different flags.
The new board of directors is a unique blend of financial
strength and market expertise; as majority shareholder YILDIRIM
will have 3 seats (including Mr. Robert Yuksel Yildirim) whereas
the Sealease day-to-day management will have 2 seats and votes to
secure continuity.
The growth potential is significant with a plan to boost the
assets in the next few years, both in the existing segments as well
as in new product lines. The Sealease management is proud of the
acquisition since "it will be able to tap into YILDIRIMʼs credit
lines in addition to the existing bank relation and endorse the
Sealease credo - We Sea No Limit."
Managing Directors of Sealease and their contact details are as
follows:
• Mr. Philippe Wirtz (+32-476-520463) at philippe.wirtz@sealease.com
• Mr. Luc Verstraete (+32-470-528844) at luc.verstraete@sealease.com
About YILDIRIM Group:
The story of the YILDIRIM Group started in 1963, when the father
of Robert Yuksel Yildirim, the Chief Executive Officer of the
Group, began trading in construction materials in Samsun, along the
Black Sea coast of Turkey. The family-owned Group has grown into a
diversified outfit with companies in mining, ports, ship-owning,
coal trading, import and export of dry bulk material and fertilizer
production. In 1989, the Company had moved into the coal trading
business which in 1992, led to its involvement in shipping through
Yildirim Foreign Trade Inc. and Yilyak Coal Trading Inc.
By the year 2000, the Group was transporting around 3 million
tons of coal per year, and Yildirim Foreign Trade Inc. began
chartering vessels for the Group's in-house cargoes. YILDIRIM Group
established its in-house ship-owning and ship-management company,
Yilmar Shipping, in 2000. The Group acquired ETI KROM Inc. (chrome
ore mining and high carbon ferrochrome producer) and Gemlik
Fertilizer Works Inc. (fertilizer producer) from Turkish
Privatization Authorities in 2004.
In February 2008, the Group acquired a Swedish company called
Vargon Alloys AB, which is the biggest High Carbon Ferrochrome (HC
FeCr) producer in Europe. The deal made the Group worldʼs second
largest high quality HC FeCr producer.
In 2005, YILDIRIM Group established YILPORT Container Terminal
and Port Operators Inc. in Gebze, Turkey. The facility is currently
being developed, and the 2nd stage of the investment project
scheduled to be completed by the middle of 2013. This is aimed at
giving the port an annual capacity of 1 million TEU. Once the
terminal is completed in 2015, YILPORT will reportedly have a
capacity of 2 million TEU containers, 5 million tons of general/dry
bulk cargo and 1.5 million tons of liquid cargo handling capacity.
In 2007, YILDIRIM Group also acquired Marmara Shipyard in Yarimca,
Turkey to build its own vessels in order to expand its vessel
fleet.
Other international investments and acquisitions being
undertaken at the moment include the acquisition of several ports
in Europe, Africa, South America and investments in coal mines in
the US, Colombia, and other mines in Africa.
www.yildirimgroup.com