Maersk Broker has completed a management and employee buyout from its long-standing owners, the Mc-Kinney Møller family.

The Copenhagen-based ship brokerage, established in 1914, will continue to operate under its new name, MB Shipbrokers.

“The change of ownership is based on a common ambition of the seller and the buyer to preserve the more than 100 years legacy and to secure the company’s position long-term, under a new name with a new ownership structure,” Maersk Broker said on social media.

Although the transaction details have not been disclosed, the move has ended earlier Clarksons takeover speculations. No operational changes are expected, as it should be “business as usual in all aspects,” the company added.

Commenting on the buyout, Kristian Mørch, chairman of Maersk Broker, said: “The owners and the board of directors have for some time explored different ownership structures to ensure the company remains strongly positioned for the future. Acknowledging the unwavering commitment of the management and employees to preserve the legacy and values that have been the foundation for Maersk Broker’s success for generations, we believe they are the right owners to ensure the continued success of the company in decades to come.”

The brokerage has been privately owned by the Mc-Kinney Møller family since its foundation. Today, the outfit has offices in all major shipping hubs and employs nearly 250 people.