HICO acquires Bengal Tiger Line
HICO, a privately owned trust fund owned by the Hartnoll family, has acquired the assets of Bengal Tiger Line (BTL) from CMIA Capital Partners, a Singapore-based Investment Fund.
“The change of ownership from CMIA Capital Partners to HICO will not see any change in the management structure of Bengal Tiger Line, and the day-to-day business will remain as status quo and will continue without any form of disruption,” said BTL in an announcement.
This acquisition is in line with HICO’s interests in the focus verticals of hospitality, technology and transportation, according to a statement, while HICO will look to build value for Bengal Tiger Line through the knowledge, network, skills and culture of the businesses under the HICO umbrella.
BTL has initial roots in Hamburg (1986). The company was subsequently transferred to Cyprus before the move to Singapore in January 2009. In 2018, BTL was acquired by CMIA Capital Partners.
Deriving its name from the early trading area of the Bay of Bengal where BTL first established its origins as a common feeder, today’s geographical spread covers from the Far East to the Arabian Gulf but the core sectors remain within India.