ICON Energy Acquired by Hampton Financial | Logistics M&A Deal

Hampton Financial has completed the acquisition of ICON Energy, a logistics other business in Greece, for $550,000. Hampton Financial acquires ICON Energy through open market purchases of 325,000 common shares, taking a 10% stake in the dry bulk shipping company. ICON Energy operates a fleet of three oceangoing vessels providing worldwide seaborne transportation services for dry bulk cargoes, with its principal executive office in Athens. Hampton Financial acquisitions are structured as an add on acquisition by a private equity firm, with the investment thesis tied to ICON Energy acquisition value versus reported NAV of about US$7.00 per share and improving shipping rates.