Ship Supply International, an H.I.G. Capital Portfolio Company, Completes 2nd Acquisition of 2016

MIAMI – June 29, 2016 – Ship Supply International has acquired R.S. Stern, Inc. Headquartered in Baltimore, Maryland, R.S. Stern, founded in 1870, is America’s oldest ship chandler with a tradition of dedicated customer service and a strong presence across the Mid-Atlantic region. “We are excited to strengthen our presence and to further expand our operations along the U.S. East Coast,” commented Bruce Margolin, Chief Commercial Officer. “R.S. Stern has had a long history of success and provides Ship Supply with a highly complementary geographic footprint, product portfolio and customer base. With the acquisition, we look forward to continuing to execute our strategy of developing a global platform for commercial port logistics services by partnering with regional market leaders that share our commitment to providing best-in-class customer service.”