Since the logistics industry is a magnet for acquisitions and mergers, the concentration of forces in this particular market, the key feature of which is fragmentation, continues. The EOS Capital Partners fund of Apostolos Tamvakakis, along with two other schemes, is in talks with the Med Frigo group to acquire it and its subsidiary Cargo Med, according to the information. “There are discussions that have not yet led to a final agreement,” said sources monitoring the ongoing processes between the two sides. Med Frigo, led by Managing Director Sotiris Brakatzelos, was founded in 1991 and offers temperature controlled logistics and transport services. During the 2021 financial year, the company posted a turnover of 40.6 million euros and a profit before tax of 6.4 million euros, with logistics centers in Aspropyrgos, Thessaloniki, Igoumenitsa and Patras, where the company is headquartered. Its subsidiary Cargo Med recorded a turnover of 18.3 million euros and a pre-tax profit of 952,000 euros last year.

The deal, if completed, will be the second investment in the logistics industry for EOS Capital, which was founded in 2017. A fund with assets under management of 150 million euros acquired in June 2022 49% of an international transport company. based in Zurich, Chaika.

Demand for high-end storage space is particularly high.

Another deal, which is expected to be completed in the near future, concerns the acquisition of an 80% stake in Orpheus Veinoglu by the American fund HIG Capital Advisors. The remaining 20% ​​will remain with the Veinoglu family, with Dimitris S. Katsadakis (nephew of the current president and great-grandson of the founder) currently serving as the company’s vice president. It is worth noting that the deal between Orfeus Veinoglou and HIG Capital appears to have been underway since the winter of 2021, and the leaders of the transport company have long been suspiciously silent about the discussions on both sides. HIG Capital, which acquired Makios Logistics in 2021, also controls 70% of Olympia Kandili, aiming to increase its share of the Greek warehouse market to around 18%.

HIG is also starting the construction of a warehouse and distribution center in Aspropyrgos, on the territory of Hellenic Steel, which is an investment of 244 million euros. The project provides for the construction and operation of a single model of a modern supply chain (logistics) and combined land-sea-rail (trimodal) transportation. It will be built on a 291-acre site located in the Oil Refinery Industrial Estate at 17 km E.O. Athens – Corinth and separated from E.O. Athens – Corinth into two parts, which will be connected by a bridge. The first 238-acre site will have a port, a container handling area, a truck handling station, one of four storage yards, and a vehicle handling station. The second section of 53 square meters will house a multifunctional building, three warehouses and a container handling area.

The concentration registered in the logistics industry and planned development projects such as the logistics center at Triasio-Pedio in Aspropyrgos under the Goldair – ETVA VIPE scheme are expected to increase the supply of high-end warehousing space, the demand for which is particularly strong. .