Lomar completes $160m acquisition of Carl Büttner

Lomar Shipping, a maritime subsidiary of Libra Group, has acquired Bremen-based Carl Büttner Holding, paying $160m to take over the 166-year-old company and its fleet of six chemical tankers.

“We are pleased to see the acquisition of Carl Büttner successfully completed and look forward to welcoming our new colleagues and their vast tanker management expertise as Lomar enhances its presence in the sector,” said Nicholas Georgiou, CEO of Lomar Shipping.

George Logothetis, executive chairman of Libra Group, said, “This deal reflects the ethos and family values shared across our business group. We are pleased that as the Carl Büttner group joins Lomar, a proven maritime leader, it will also benefit from the strength of Libra Group’s network around the world.”

Logothetis went on to suggest that a raft of other announcements would be coming from Lomar and Libra in the coming months.

Also announced today, long-time Carl Büttner managing director Thorsten Mackenthun has decided to retire following the acquisition after 42 years in the shipping business.

Lomar’s diversified mixed-sector fleet of approximately 50 vessels is best known for its containership exposure.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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