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London | 13 July, 2010 – Global M&A, one of the world's leading independent M&A advisory firms, today announced
ACM Shipping Group plc (“ACM” or the “Group”), a leading international shipbroker, has entered into an agreement to acquire the business of Endeavour Shipbrokers Pty Ltd. (“Endeavour”), a dry cargo shipbroker based in Melbourne and Sydney.
Amounting to a total consideration of AU$10m (£5.8m), the acquisition will take the Group into the dry cargo market enhancing ACM’s offering and diversifying Group earnings.
ACM is one of the world’s principal shipbrokers and a market leader in oil transportation. Key activities are spot brokerage freight, time charter, project brokerage, sales and purchase, derivatives brokerage, research and consulting. Established in London in 1982, the Group has expanded its international operations with offices in London, Singapore, India and China, employing over 100 brokers and support staff who provide clients with global experience and intimate local knowledge of the world’s shipping centres. ACM was admitted to AIM in December 2006. www.acmshippinggroup.com
Founded in 2004, Endeavour has offices in Melbourne and Sydney. With a team of 12 dry cargo brokers and support staff, the business concentrates on handy up to supramax size and is a specialist dry cargo shipbroker which has successfully positioned itself as a leading Asia Pacific dry cargo broker. Key activities are spot voyage charters, time charters and period charters with the majority being concluded with large multinational industrial companies.
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