EOS Hellenic Renaissance Fund (EHRF) invests in Seagull Group
EHRF, managed by EOS Capital Partners (EOS), announces its seventh investment of c. €9.6m in Seagull Group, a leading International Freight Forwarder & Logistics provider with headquarters in Zug, Switzerland.
Seagull Group was established in 2006 Mr. Dionysis Steriotis and has an international presence in two continents via a very attractive and transparent holding structure in Switzerland. The Group has subsidiaries in a number of countries, including Greece, Switzerland, United Kingdom, Bulgaria, Cyprus and China.
Seagull offers superior services in the transportation and integrated logistics sector, including international sea, road and air freight services, warehousing and 4PL services, domestic distribution through its own fleet and/or subcontracted fleet and other special custom offerings.
In terms of financials, Seagull enjoys a notable size as it achieved to rapidly expand its business during the last three years – revenues more than doubled from €45m in FY18 to €107.2m in FY21e (CAGR +34%), which allowed the Group to exploit significant economies of scale, lifting up operating profit margins. It is also noted that Seagull will reach a warehouse capacity in Greece of more than 100.000m2 in FY22.
Seagull is a member of several Recognized Networks and partner to over 600 agents (among representations with Kerry, De Well, Honor, CH Robinson, etc.), while it maintains excellent relationships with Sea Carriers, Airline Companies and other Vendors, has several certifications in place (AEO, ISO9001, ISO14001, QMS, GDP for Medical Equipment, EETT, EOF License, HACCP, Husbandry, ISO 27001 acquired, SQUAS) and is awarded as Gold Transport Company, and among strongest companies by ICAP.
EHRF’s funds will be used to support the Group’s heavy front-loaded investment plan including the upgrade of logistics & warehousing operations, new investments in freezing chambers/cold storage and new tanks for liquid freights as well as the upgrade of Group’s trucks fleet.
EOS is the external Alternative Investment Fund Manager of EHRF, a private equity fund with approx. € 150m in AUM, focusing on growth capital investments in Greek SMEs across all sectors. The key cornerstone for the creation of EHRF, was its participation in the Equifund Fund of Funds program. EquiFund investment platform is an initiative created by cooperation between the Hellenic Republic and EIF. It is financed by the Greek ESIF Fund of Funds TAESYM under the European Union / European Regional Development Fund / Operational Programme EPANEK, the EIF and private investors, with the objective to facilitate access to finance, mainly to SMEs, by developing the Venture Capital/Private Equity (“VC/PE”) in Greece in cooperation with selected Financial Intermediaries.
EOS investment strategy focuses on SMEs with a healthy financial position and a solid value proposition looking for capital to achieve their growth potential either organically or inorganically through mergers and acquisitions.