OW Bunker, Denmark’s biggest company after AP Møller-Mærsk in terms of turnover, today announced that it will launch an initial public offering in 2014. Altor Fund II, a private equity fund, which has been the company’s majority shareholder since 2007, will partly exit its investment through a public listing on the NASDAQ OMX Copenhagen stock exchange
The company describes itself as a global market leader in marine fuel logistics, active in all stages of the distribution chain of fuel to the shipping industry. It reported a strong year in 2013: adjusted profits grew by 37 percent and the volume of marine fuel distributed rose 32 percent.
“Last year’s results are the continuation of a long track record of profitable, organic growth and a confirmation that our dedication to working integrated with reselling and physical distribution of marine fuel is the right path to success," Jim Pedersen, OW Bunker’s CEO, said in a press release.
"With our well-invested, scalable business platform and global reach, I am confident that we will continue our solid performance and successfully develop our business further.”
Optimism from the CEO
Pedersen expresses optimism about the IPO, both for the company and new investors. “I’m proud to say OW Bunker is in great shape to welcome any newcomers,” he said in his foreword to the 2013 annual report.
The soon-be-listed OW Bunker has 38 offices in 29 countries, placed strategically at key ports around the world. The company’s head office is in Nørresundby in northern Jutland. The company employed 622 people around the world, and as of the year-end, 61 percent of them were in northern Europe.
OW Bunker expects the market for marine fuel to grow – largely due to the continued growth of international trade.
