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Bidsted & Co acquired by Simpson Spence Young
London: Thursday December 14th, 2017: Simpson Spence Young, the world’s largest independent shipbroker, has today announced in a joint statement with Bidsted & Co, that it has agreed terms to acquire the Danish shipbroker.
Bidsted & Co, which was founded in 1940, is one of the last few remaining independent shipbrokers in Copenhagen. Bidsted’s chartering and S&P expertise focuses on serving Danish and Far Eastern dry cargo charterers, operators and shipowners.
Stanko Jekov, Head of Dry Cargo at Simpson Spence Young, said: “We are very much looking forward to working with the team at Bidsted and this acquisition is a great opportunity for us to continue to grow our Dry Cargo department with local expertise in Copenhagen, one of the major shipping hubs of Europe.”
Carsten Munk Jensen, Managing Director of Bidsted, said: “This move will provide new opportunities for our team under the umbrella of a major global brokerage.”
Mark Richardson, Chairman of Simpson Spence Young, added: “This is an excellent strategic fit for both parties and further enhances our global reach.”