Wrist continues rapid expansion with acquisition of the UK’s Strachans Ltd

Wrist Ship Supply, one of the world’s largest ship supply companies, Friday announced the acquisition of Strachans Ltd, the UK’s leading independent food distributor to the offshore catering market. The investment represents Wrist’s sixth deal in less than two years following other acquisitions in Europe, America and Canada.

The Global offshore market is the new target for supplies as Wrist continues its rapid expansion. The agreement combines Strachans’ specialist offshore market knowledge with Wrist’s global network, worldwide infrastructure and financial strength and provides the foundation for Wrist’s expansion into the global offshore oil and gas industry – a market of significant growth and opportunity.
 
The move will also enable Wrist to grow its existing operations within the UK. Strachans will continue to be led by James Strachan and, in conjunction with Wrist’s worldwide platform, will be able to provide offshore catering organizations and their customers with a specialist global solution for the sourcing and provision of food and consumables, as well as deck and engine supplies.

Robert Steen Kledal, Managing Director, Wrist Ship Supply, commented that Strachans’ specialist offshore expertise and proven track record makes it an excellent partner through which to capitalize on the opportunities of the growing offshore market for supplies.

Kledal reiterated that the investment fundamentally continues Wrist’s rapid growth, as the company looks for continued and controlled expansion, strengthening its worldwide operations and creating an unrivalled global platform for providing supplies to the shipping, offshore and related markets.

Both Wrist and Strachans have identified the growing requirement for companies that work within the offshore industry to find a competent global offering for food and consumables, as well as deck and engine supplies, said Kledal.

According to Kledal, the realization offers a solution that is based on a real understanding of the challenges within the market, and one that maximizes efficiencies and drives down costs, as well as importantly, improving the quality of supplies, which is vital for maintaining the welfare of crews and rig employees.

James Strachan, Managing Director at Strachans, part of the Wrist Group, said the deal provides Strachans, its employees and customers the opportunity to be part of a thriving global operation.

Combining Strachans’ reputation for service excellence within the offshore market with Wrist’s worldwide network makes for a compelling proposition and the chance to build a brand that is known as the global supplier of choice for the offshore market, said Strachan.

8th May 2011