Completes Acquisition News

Danish shipping giant A.P. Moller - Maersk (Maersk) announced it has completed its $61 million acquisition of Danish project logistics company Martin Bencher Group.“With the addition of Martin Bencher, we are strengthening our ability to offer project logistics services to our global clients while providing a more comprehensive offering to a wide array of industries. As such, Martin Bencher really is an excellent fit to Maersk and our integrator strategy,” said Karsten Kildahl…

Louisiana-based Bollinger Shipyards announced it has completed its acquisition of Pascagoula, Miss. shipbuilder VT Halter Marine and neighboring repair yard ST Engineering Halter Marine Offshore (STEHMO) from parent company ST Engineering North America, the U.S. subsidiary of Singaporean multinational technology, defense and engineering group ST Engineering.The deal, first announced on November 7, is said to be worth $15 million, according to ST Engineering. Bollinger, which operates 14 facilities located throughout Louisiana with direct access to the Gulf of Mexico…

Chevron Corporation earlier this month completed its previously announced acquisition of biodiesel production company Renewable Energy Group, Inc. (REG) following approval by REG stockholders.“We have brought together companies with complementary capabilities, assets, and customer relationships to make Chevron one of the leading renewable fuels companies in the United States,” said Mark Nelson, executive vice president of Downstream & Chemicals for Chevron. “Chevron now offers our customers an expanded suite of cost-effective…

Defense, engineering and IT conglomerate Leidos announced on Friday it has completed its $380 million cash acquisition of marine engineering and naval architecture firm Gibbs & Cox.The deal, announced in February, will see Gibbs & Cox operate as a wholly-owned subsidiary combined with Leidos' maritime systems division.Headquartered in Arlington, Va., Gibbs & Cox is the largest independent ship design firm focused on naval architecture and marine engineering. The acquisition positions Leidos to provide a broad set of engineering solutions to the U.S.

Integrity Machining, Inc., makers of Kolstrand marine deck equipment, announced the acquisition of all of the assets of J.K. Fabrication, Inc., based in Seattle, WA, effective immediately.“This acquisition marks a transformative moment for Integrity Machining and our customers. Commercial fishermen in the Pacific Northwest have long relied on innovative and rugged Kolstrand and JKFab products and services,” said Paul Glyer, President, Integrity Machining.JK Fabrication manufactures Nordic winches and JKFab products.Jim Krieder, founder of JK Fabrication, and the entire JK Fabrication team, have relocated to the much larger facility occupied by Integrity Machining in Marysville…

BRP has announced the completion of the previously-announced acquisition of 80% of the outstanding shares of Telwater Pty, Ltd ("Telwater"), Australia's leading manufacturer of aluminum boats and trailers.As BRP’s third boat acquisition, Telwater’s addition to the Marine Group is another step in helping create a strong offering and foundation to expand into new markets, with the objective of transforming the marine industry as it did for powersports.The Telwater commitment to…

Watson Farley & Williams advised Bremen-based ZEABORN Group on its acquisition of all outstanding shares in its joint venture ZEAMARINE from partner New Mountain Capital, New York/USA.In May 2018, ZEABORN and Intermarine, a subsidiary of New Mountain Capital, merged their multipurpose and heavylift activities into a global joint venture named ZEAMARINE with offices in Germany, the USA, Denmark, Cyprus, Japan, Belgium, Singapore, Korea, China, Malaysia and Dubai.Now, after the acquisition of all shares, ZEABORN as the sole shareholder continues to focus on its dynamic and strategic expansion. Above all internationally, ZEABORN emphasises…

Seanergy Maritime Holdings reported  the successful completion of the previously announced sale and purchase agreements.The Greece-based  shipping company with specialization in dry bulk cargo shipping said that on November 22, 2018 the Company took delivery of the M/V Fellowship, a 179,759 deadweight ton (dwt) Capesize dry bulk vessel, built in 2010 at Daewoo Shipbuilding in South Korea.Seanergy entered into the agreement to acquire the M/V Fellowship in August 2018.Furthermore, the Company has completed the sales of two Chinese built Supramax vessels. Specifically, the M/V Gladiatorship, built in 2010 at CSC Jinling Shipyard, was delivered to its new owners on October 11…

Norway-based provider of marine geophysical services Shearwater GeoServices Holding  announced the completion of the acquisition of the marine seismic acquisition assets and operations of WesternGeco, the geophysical services product line of Schlumberger.The owner of world’s largest fleet of high-end seismic vessels said in a release that the transaction was completed following receipt of relevant regulatory approvals and satisfaction of customary closing conditions.“We are now an industry-leading full-range geophysical services company with a solid financial and strategic platform. We are eager to move ahead as one strong combined business with global reach…

The international provider of marine drybulk transportation services Safe Bulkers said that it had completed the  acquisition a second hand, Japanese, 181,400 dwt, Capesize class dry-bulk vessel the Mount Troodos, built in 2009 in the last quarter.The Monaco-based company said in a press release that: "We have  acquired Mount Troodos at what we consider an attractive price."The acquisition was financed from cash on hand and subsequent to quarter end with a new loan facility.Incidentally, the company signed an amendment to an existing loan facility of $32.0 million initially intended for two vessels, upsizing it to a total of $52.4 million…

German offshore industry service provider United Offshore Support (UOS) announced that it has completed its acquisition of the commercial and technical-nautical management businesses of both UOS United Offshore Support and Hartmann Offshore.Since the acquisition was announced in July 2018, the management and staff of both companies have been working to bring the two organisations under the UOS brand, which is based in Leer, Germany.UOS is led by Chief Executive Howard Woodcock, who joined the company in August 2018. Howard has over 35 years’ experience in the shipping, marine, and offshore oil & gas sectors, and prior to joining UOS spent 13 years as Chief Executive of Bibby Offshore…

ESL Shipping, a shipping company fully owned by Aspo has completed the transaction concerning the acquisition of all the outstanding shares of AtoB@C Shipping AB and AtoB@C Holding AB that offer shipping services.Total of 444,255 new Aspo's shares issued as part of the purchase price of the Transaction have been registered in the Finnish Trade Register today on 31 August 2018. After the registration of the new shares, the total number of shares in Aspo is 31,419,779.As announced earlier, the new shares were issued as share consideration in connection with the Transaction in addition to the cash consideration payable to the sellers and the shares are subject to a two-year transfer restriction and pledge.

Star Bulk Carriers Corp. announced that it has consummated the previously announced acquisition of 16 dry bulk vessels in an all-share transaction, from entities affiliated with Augustea Atlantica SpA and York Capital Management.The final consideration for the Augustea Vessel Purchase is 10.3 million common shares of the Company, equal to approximately 11.3% of Star Bulk’s common shares after the closing of the Augustea Vessel Purchase.As part of the transaction, the Company will assume debt of approximately $309 million.Following the closing of the Augustea Vessel Purchase, Raffaele Zagari will be appointed to the Board of Directors of Star Bulk as a Class C Director.

Global shipping company Star Bulk Carriers, announced  that it has closed the previously announced acquisition of fifteen operating dry bulk vessels  from Songa Bulk  for an aggregate of 13.725 million common shares of Star Bulk  and $145.0 million in cash. Following the closing of the Vessel Purchase Transaction, (i) Arne Blystad will be appointed to the Board of Directors of Star Bulk as Class C Director and Herman Billung will join the management team of Star Bulk as Senior Vice President and (ii) Songa is expected to distribute the Consideration Shares to its shareholders. First trading day of the secondary listing of the Company’s common shares on Oslo Børs, a regulated stock market operated by Oslo Børs ASA of Norway, is expected to take place by mid-July.

Germany’s Hamburger Hafen und Logistik AG (HHLA) has completed the acquisition of Estonia’s largest terminal operator, Transiidikeskuse AS (TK). The last conditions that the sales contract dated 26 March 2018 was subject to were recently fulfilled, resulting in all shares in Transiidikeskuse AS being transferred to HHLA International GmbH. As a result, the transaction has now been completed. Chairwoman of HHLA’s Executive Board, Angela Titzrath, made this comment during a visit to the Estonian capital of Tallinn: “We’re delighted that the takeover has now been completed. This will allow us to successfully advance the ongoing integration of TK into the HHLA Group.

US-based tanker shipping company International Seaways (INSW) has completed the acquisition of six 300,000 dwt very large crude carriers (VLCCs) from Euronav NV. The tanker company providing energy transportation services for crude oil, petroleum products and liquefied natural gas announced in a press release that it has completed its previously announced acquisition of six 300,000 DWT VLCCs for a purchase price of $434 million, inclusive of assumed debt, from Euronav. The six vessels have an average age of two years and include five 2016-built VLCCs and one 2015-built VLCC, each constructed at Shanghai Waigaoqiao Shipbuilding Co. International…

Danish shipping and logistics group DFDS has completed the acquisition of Turkey’s largest operator of Ro-Ro freight ships and will be a major player in the strong and continuously growing trade between the EU and Turkey. In April, DFDS signed an agreement with the owners of  U.N. Ro-Ro to acquire the shares in the company, said a press release from the company. “All relevant authorities have now approved the transaction and I am very pleased to announce that on 7 June we completed the deal. U.N. Ro-Ro and its strong Mediterranean shipping network are now part of DFDS,” says Niels Smedegaard, CEO & President of DFDS. U.N. Ro-Ro operates…

Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced today that it has taken delivery of four 2008-built Panamax containerships. These vessels are employed on charters with a net daily charter rate of $27,156. The charters expire in 2020 and are expected to generate approximately $70.0 million of EBITDA, assuming expenses approximating current operating costs and 360 revenue days per year. Navios Containers previously agreed to acquire the four 2008-built 4,730 TEU containerships for a total purchase price of $96.8 million. Navios Containers financed the acquisition of these vessels with the net proceeds…

Ensco plc announced today that Ensco shareholders voted to approve the allotment and issuance of Ensco Class A ordinary shares to shareholders of Atwood Oceanics in connection with the all-stock acquisition of Atwood at the Company’s general meeting of shareholders on 5 October 2017. The final results of the general meeting of shareholders held today indicate that 65% of the shares cast at the meeting voted in favor of this proposal. Carl Trowell, Ensco’s President and Chief Executive Officer, said, “We are extremely pleased that Ensco shareholders recognized the strategic and financial merits of our combination with Atwood. "By acquiring Atwood at a pivotal time in the market cycle…

Teekay Corporation and Teekay Offshore Partners announced that they have completed their previously announced comprehensive transaction with Brookfield Business, together with its institutional partners (collectively Brookfield). “With this comprehensive transaction now completed, Teekay looks forward to working with Brookfield as co-sponsors of Teekay Offshore to support the Partnership’s continued growth,” commented Kenneth Hvid, Teekay’s President and CEO. “With our existing in-progress growth projects now fully financed and nearing completion, our top priority is to deliver these projects into operation, which are expected to contribute approximately an incremental $200 million of run-rate annual cash flow from vessel operations…

The Marshall Islands-based shipping company Navios Maritime Containers has closed the acquisition of the remaining four container vessels and as a result has completed the acquisition of the entire 14 container vessels fleet. Navios Containers acquired the 14 vessels for a total purchase price of $118.0 million plus certain delivery and other operating costs. The Fleet was partially financed through two loan facilities of $61.0 million in aggregate, including a previously announced $40.0 million facility, and a recently completed $21.0 million facility. Following this acquisition, Navios Containers controls a fleet of 14 vessels, totaling 57,100 TEU and the current average age of the fleet is 9.7 years.

Statoil completes acquisition and takes over operatorship of Brazilian offshore licence BM-S-8     Statoil and Petrobras have completed their previously announced transaction, whereby Statoil has acquired Petrobras’ 66 percent operated interest of the BM-S-8 offshore license in Brazil’s Santos basin.   BM-S-8 contains a substantial part of the Carcará pre-salt oil discovery.   On the completion of the transaction, Statoil has paid Petrobras $1.25 billion, half of the total consideration. The remainder will be paid at the passage of certain future milestones, mainly relating to the future unitization of Carcará.

Royal Boskalis Westminster N.V. (Boskalis) has concluded the acquisition of the dredging activities and assets of STRABAG Wasserbau GmbH. The transaction price of EUR 70 million has been financed from Boskalis' own cash. With the transaction Boskalis acquires the equipment, personnel and relevant contracts of STRABAG Wasserbau. The most important assets are two young trailing suction hopper dredgers with a capacity of 7,350 m3 each, a large modern backhoe dredger and four self-propelled barges. Through this acquisition, Boskalis strengthens its home market position in Germany where it recently acquired a contract together with Züblin AG from the Bremen port authority for the construction of a transshipment terminal for the offshore wind sector in Bremerhaven.