Drew Marine, Inc.

Based in the US, Drew Marine, Inc. is a global provider of maritime chemical products and services, catering to the diverse operational needs of the maritime industry. Drew Marine, Inc. specializes in offering maritime chemical solutions for shipping operations worldwide.

Founded in 1920 in the US, the company has undergone significant business changes, including the acquisition of Drew Marine by Court Square Capital Partners in June 2019 from The Jordan Company. The firm has completed three deals, with its most recent deal in June 2019. Scot Benson serves as the CEO of Drew Marine. The company has raised a total of USD 120.

00 mn in funding, with the latest round being a Buyout amounting to USD 120. 00 mn led by J. F. Lehman & Company.

Drew Marine provides a comprehensive suite of maritime chemical products and services tailored to meet the diverse needs of the global shipping industry. Their core offerings include specialized solutions for various maritime markets such as bulk carriers, container ships, cruise ships, energy solutions, military and government operations, new builds, and recreational vessels. The company's product range encompasses advanced cleaning solutions, water treatment systems, fuel management products, and maintenance solutions designed to enhance operational efficiency and ensure compliance with international maritime regulations. Drew Marine’s clients include major shipping companies and fleet management firms, with a focus on delivering high-quality support and expertise that aligns with the operational requirements of their customers.

Geographically, their products are available worldwide, allowing them to serve a wide variety of maritime operations across different regions, including Asia, Europe, North America, and the Middle East. Drew Marine generates revenue primarily through B2B transactions with shipping companies and maritime operators. The company reported a revenue of USD 140,000,000 for the most recent year. Their business model involves direct sales of chemical products and services, including both one-time purchases and long-term contracts that encompass maintenance and support services.

Partnerships with clients allow for tailored solutions based on operational needs, fostering ongoing relationships that encourage repeat business. Transactions typically include bulk orders of cleaning products, water treatment solutions, and engineered systems, with pricing structured around the scale and complexity of the services provided. The company’s flagship services, including cargo hold cleaning solutions and advanced energy management systems, are designed to enhance customer efficiency and compliance, solidifying their revenue stream within the maritime sector. Drew Marine plans to leverage its recent funding to enhance its offerings and expand its market reach.

The company is focusing on the development of new products aimed at increasing operational efficiencies for maritime operators. Specific geographic regions targeted for expansion include Asia, Europe, and the Middle East, with initiatives expected to launch following product development milestones. The strategic acquisition in June 2019 will support these growth initiatives, as it allows for a more robust operational framework to cater to new markets. The company had previously attempted a significant transaction in May 2017 with Wilhelmsen Maritime Services to acquire its technical solutions business for around USD 400 mn, which was ultimately abandoned in July 2018.