Epic Shipping Holdings Limited and Pantheon Inc. has jointly announced the
completion of their merger to form Epic Pantheon International Gas
Shipping Ltd. E-P Gas operates a fleet of 22 modern, 3,200 cbm to 7,200
cbm, fully-pressurized gas carriers with complete in-house technical and
commercial management capabilities.
Concurrent with the merger, E-P Gas received significant new equity
capital from leading maritime investors: Jefferies Capital Partners, a
New York-based private equity firm that was also the lead shareholder in
Epic’s former parent Pacific Basin Shipping Limited; Shipping &
Intermodal Investment Management, the shipping fund of DVB Bank; the
principals of Diamantis Pateras Maritime Ltd.; and certain members of
the board of directors, including Chris Buttery, retired Chairman and
CEO of Pacific Basin Shipping Limited.
“The combination of Epic and Pantheon creates an industry leader with a
comprehensive service offering,” stated John Davis, Chief Executive
Officer. “Our equity partners are committed to the long term success of
the business and have the additional capital necessary to support the
Company’s future growth plans.”
“This merger creates a strengthened foundation from which E-P Gas will
execute its plans for growth within the LPG and petrochemical sector in
line with our long standing commitment to improving the quality and
scope of services provided to our customers,” stated Stefanos D.
Michalis, Managing Director and Head of Business Development.
Jeremy Lee, Managing Director and Head of Commercial Operations
commented, “E-P Gas has the scale, fleet and operational capabilities to
serve our customers on a truly global basis. We will continue to
leverage our in-house commercial and technical expertise to provide the
safest, most dependable solutions for our customers.”
Dagfinn Lunde, Member of the Board of Managing Directors of DVB Bank,
added, “We, as an institution, have known and respected the executives
and principals behind newly formed E-P Gas for many years and look
forward to supporting the Company’s endeavors within this important
segment of the maritime industry.”
DVB Corporate Finance served as financial advisor to the Company in
connection with the transaction.
About E-P Gas
E-P Gas owns and operates a fleet of fully pressurized gas carriers
providing seaborne services for the transportation of liquefied
petroleum gas and petrochemicals. The Company’s 22 vessels serve as a
crucial link in the international gas supply chains of leading oil
majors and commodity trading houses throughout Southeast Asia, Europe,
West Africa and the Americas. E-P Gas is headquartered in Singapore,
with additional offices in Athens and London.
Epic Pantheon International Gas Ltd.
John Davis, +44 (0)778 523 2324
Chief Executive Officer