July 20, 2024
Investment

Inchcape makes major investment in Suez specialist Leth


Leth has a century-long history in Egypt and is known for providing services related to the Suez Canal and Egyptian ports, handling over 200 Suez Canal transits per month. The company’s footprint has expanded from Egypt in the past two dedaces to Malta, Turkey, Panama, Gibraltar, Spain, Singapore, and Denmark through partnerships and joint ventures.

Leth stressed that it will be business as usual after the investment as it stays a separate company and brand with Otto Jervell remaining CEO and shareholder. 

“Leth  will continue as is with the same operating philosophy and great people. Partnering with Inchcape allows us to take Leth to the next level of becoming the leading global transit agent. We see potential to increase our presence where our clients are located and the need to speed up our digitalisation process”, said Otto Jervell, CEO of Leth. 

Inchcape’s said its investment will allow the company to benefit from Leth’s distinctive and solution-based value proposition, brand strength as a transit specialist, and strong customer relationships. Leth will gain access to Inchcape’s global infrastructure, standards and processes, and digital transformation capabilities.

The investment comes as Leth eyes further expansion in 2024 into markets like the US, Greece and Asia, according to Jervell.

“From the very first engagement, Jervell and his team have left me with a very strong impression. Their client and service focus is second to none and very much setting the industry benchmark. Our team and I feel privileged to be able to work together and continue to develop meaningful value propositions for our customers. I am extremely excited to see our true joint potential benefit our partners around the world!” said Inchcape Shipping Services CEO Philippe Maezelle.
 



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