Connecticut-based maritime finance company FDX Offshore has acquired Singapore’s tanker pool operator Womar Logistics. Watson Farley & Williams (WFW) advised FDX Offshore on its acquisition.
The partnership intends to expand its chemical tanker pools as well as initiate and grow independent pools in other classes of ships.
FDX is led by Managing Partner Jake Scott and Partner Andy Tuchman who will both become Womar board members. Formed in 2013, FDX has been providing financial advice and capital sourcing to maritime and energy projects.
Incorporated in early 2009, Womar began as a 50/50 joint venture between Heidmar and other investors. In April 2014, BW Group acquired Heidmar’s 50% stake in Womar. They currently have 31 ships in their fleet.
The WFW New York Dispute Resolution team serving as maritime counsel to FDX on this transaction was led by Of Counsel Neil Quartaro, assisted by Associate Sabih Siddiqi.
Mr. Jake Scott, Managing Partner of FDX, said: “We are extremely excited to have completed this transaction. It has been a pleasure working with Neil and his talented team at WFW and we look forward to working with them again in the future.”
Neil commented: “We are delighted to have advised FDX on this strategically important transaction with Womar. We have proven once more that our team meets the needs of our clients in the maritime industry comprehensively and accurately. We look forward to continuing our relationship with FDX.”