Wrist, the world’s largest supplier of provisions, stores and spare parts logistics to ships and offshore locations, acquires Centralam Panama, a recognised ship chandler based at the Pacific side of the Panama Canal.
With the acquisition, Wrist is expanding its global reach and securing a foothold at one of the world’s most important maritime crossroads while at the same time enhancing Centralam Panama’s market position. In acquiring Centralam Panama, Wrist is expanding its global operational, commercial and procurement network and thus its unique global offering.
Important maritime hubs
Jens Holger Nielsen, Group CEO of the Wrist Group, says “We’re looking forward to initiating our cooperation with Centralam Panama at one of the world’s most important maritime hubs. Centralam Panama’s management team is experienced and competent, and our companies share the same core values and business principles. Our customers, and thereby ourselves, will benefit from the combined experience and capability in the ship supply market.”
“In becoming part of the Wrist Group, Centralam Panama will benefit from Wrist’s global reach, scale, and digital platforms, providing vastly expanded opportunities for our customers and business partners. Panama has historically been an area that vessel operators try to avoid with regard to services and supplies. With the presence of Wrist, this will no longer be the case,” says Thomas Rold, Owner and CEO of Centralam Panama. Thomas Rold will continue to manage the business as part of Wrist.
Large and modern warehouses
The company’s operations are based around the large and modern warehouses
Centralam Panama annually serves more than 2,500 vessels passing through the Atlantic and Pacific ports of Panama, providing customers with marine provisions, technical goods and stores, owners’ goods and spare parts handling as well as storage, distribution and other services.
The company’s operations are based around the large and modern warehouses located centrally in the main port areas at the Pacific entrance to the Panama Canal and only a 70 km drive from the main ports on the Atlantic coast.
Organic growth and acquisitions
It is part of Wrist’s strategy to take a leading role in the global consolidation and development of the ship supply industry. Consequently, Wrist is continuously exploring new opportunities for serving customers through innovation and technology, thereby fueling both organic growth and acquisitions.
In December 2021, Wrist founded and financed Source2Sea, an independent digital sourcing marketplace facilitating online marine procurement and supply between maritime buyers and suppliers. More recent expansions of the Wrist Group include the acquisition of Wrist Valencia in 2020, Van Hulle in Antwerp in 2019, and Klevenberg in Rotterdam in 2018. Further acquisitions are expected in 2022.
