H.I.G. Capital announced that its portfolio company OB Streem completed the acquisition of Med Frigo, a European provider of temperature-controlled transportation and logistics services.
Med Frigo was founded in 1991 and has built a leading position in temperature-controlled logistics. The company is especially known for its role in the Greek aquaculture export market, where it serves major aquaculture producers and manages fresh fish exports across Europe.
Med Frigo operates through a network of owned cold-chain facilities and a refrigerated fleet. Its integrated model combines owned infrastructure, optimized round-trip fleet operations, and client relationships developed over more than three decades.
The acquisition expands OB Streem’s temperature-controlled logistics capabilities and geographic footprint. It also strengthens the group’s ability to serve customers across key European trade corridors with cold-chain transportation, storage, and broader logistics services.
OB Streem is a fully integrated logistics platform offering cold storage, ambient storage, container depots, outdoor storage, freight forwarding, and transportation services. The combined platform now has revenues exceeding $500 million.
The deal follows a period of strategic momentum for OB Streem, including the recent appointment of Alexandros Karafillides as Chief Executive Officer. Karafillides brings more than 25 years of international experience in the consumer goods sector, including senior roles in Greece and abroad.
OB Streem also recently completed a significant financing with a consortium of leading European banks. The financing is intended to support the group’s continued expansion.
With Med Frigo, OB Streem is expected to capture operational efficiencies, optimize its network, and deepen customer relationships across core markets. H.I.G. said the combination creates a differentiated logistics platform with strong temperature-controlled capabilities across Southeast Europe.
OB Streem is Greece’s largest end-to-end logistics partner and has a strong presence across Southeast Europe. The company serves as a strategic gateway for inbound and outbound trade to Europe and the broader EMEA region.
The company has 400,000 square meters of dry and refrigerated warehouse space, more than 2,000 employees, and operations in eight countries. Through more than 85 strategic representation partnerships worldwide, OB Streem’s network provides access to 44 European countries, more than 600 ports, and 250 airports.
H.I.G. Capital is a global alternative investment firm with $75 billion of capital under management. Since its founding in 1993, the firm has invested in and managed more than 400 companies worldwide, and its current portfolio includes more than 100 companies with combined sales exceeding $53 billion.
KEY QUOTES:
“The acquisition of Med Frigo marks a significant milestone for OB Streem and our growth journey. The integration of Med Frigo into our organization will further broaden the solutions we offer, creating new growth opportunities and expanding capabilities in temperature-controlled transportation and logistics. With a shared commitment to operational excellence and the delivery of high-quality services, we are building an even stronger organization, further reinforcing our position as a leading reference point in the logistics industry across Southeast Europe.”
Alexandros Karafillides, Chief Executive Officer of OB Streem
“Med Frigo brings a depth of expertise and a network in temperature-controlled logistics that is difficult to replicate. Together with OB Streem’s existing infrastructure and capabilities, we have created a unique platform. We look forward to working with Alexandros and both management teams to capture the significant opportunities ahead.”
Stelios Theodosiou, Managing Director at H.I.G. Realty in Europe
