H.I.G. Capital’s OB Streem completes acquisition of Med Frigo in Greece

H.I.G. Capital's portfolio company, OB Streem, has finalized its acquisition of Med Frigo. Med Frigo is a European provider specializing in temperature-controlled transportation and logistics services. This strategic move aims to expand OB Streem's operational capabilities in the logistics sector, particularly within the cold-chain segment.

Med Frigo is recognized for its cold-chain facilities and refrigerated fleet. A significant portion of its operations involves the transportation of fresh fish exports for Greece’s prominent aquaculture producers, facilitating their distribution across Europe. The integration of Med Frigo’s assets is expected to enhance OB Streem's service offerings in this specialized area of logistics.

The acquisition follows a period of corporate development for OB Streem, including the appointment of Alexandros Karafillides as chief executive. Additionally, OB Streem secured a financing round involving a consortium of European banks to support its growth initiatives and facilitate transactions such as this acquisition.

With the completion of this acquisition, the combined platform of OB Streem and Med Frigo is projected to generate more than $500 million in revenue. Their integrated operations will extend across eight countries, indicating a broad geographical reach and a substantial presence in the European logistics market.

This transaction by H.I.G. Capital underscores a continued private equity interest in the logistics sector, particularly in specialized areas like temperature-controlled transport. The focus on expanding cold-chain capabilities and cross-border logistics suggests a response to evolving supply chain demands and the increasing need for efficient, specialized transportation solutions across Europe.