UK’s Inchcape Shipping Services Acquires Stake in Norway’s Leth Suez Transit

UK-based port agency and marine services provider Inchcape Shipping Services has acquired an undisclosed significant stake in Norwegian transit agent Leth Suez Transit Ltd (LETH). However, Inchcape did not disclose the financial details of the acquisition.

Established in 1924 as a bunker supplier in Egypt, LETH has developed into a globally recognized transit agent, managing upwards of 200 transits per month in the Suez Canal. Inchcape Shipping Services is a portfolio company of private equity player Epiris, it represents clients at over 85% of the world’s ports across 60 countries through its network of 247 owned offices.

LETH CEO Otto Jervell will continue to head the company as part owner. The makeup of LETH’s team and its current operations are set to be unaffected by the transaction.

The acquisition will see LETH benefit from Inchcape’s infrastructure and digital transformation knowhow, boosting the company’s plans for global expansion. Inchcape will in turn benefit from Leth’ brand strength, customer portfolio, and solution-based value proposition.

Expressing his enthusiasm, Jervell said that with such an investment, they will be able to follow our strategy and take LETH to the next level, becoming the leading global transit agent. He also assured stakeholders that all operations would continue seamlessly with the same operating philosophy and talented team.

While the Suez Canal remains at the core of LETH, the company’s expertise and solution-oriented approach have expanded to cover other vital transit locations, including the Panama Canal, the Turkish and Danish Straits, and key bunkering locations such as Singapore and Gibraltar.

Trusted Partner

It has established itself as a trusted partner for some of the world’s largest and most respected shipping companies across various sectors, including O&G, Cruise, Dry Bulk, Liner, Government, Ship Manager, and Offshore industries.

Inchcape Shipping Services CEO Philippe Maezelle said that from the very first engagement, Jervell and his team have left him with a very strong impression. Their client and service focus is second to none and very much setting the industry benchmark.

“Our team and I feel privileged to be able to work together and continue to develop meaningful value propositions for our customers. I am extremely excited to see our true joint potential benefit our partners around the world,” he said.

In partnership with Inchcape, LETH is poised to offer a refined product that generates even more value for its users. While the personal touch that LETH is known for will remain a fundamental aspect of the product, it will now have the global reach to be utilised by a vast network of customers. The transit expertise that has been at the core of LETH‘s success will continue to be the foundation for this expanded solution.