SEACOR To Acquire Gilbert Cheramie Boats, Inc.

Friday, February 02, 2001
SEACOR SMIT Inc. signed a definitive agreement to acquire Gilbert Cheramie Boats, Inc. and related companies. The transaction contemplates purchase consideration of approximately $61 million to be paid in cash for all shares of voting and non-voting stock of the companies. No long-term debt will be assumed by SEACOR in the transaction, and the purchase consideration is subject to certain adjustments. The transaction, which is subject to customary closing conditions, is expected to close in March 2001.

The companies are based in Golden Meadow, Louisiana, and their fleet is dedicated to serving the oil and gas industry in the Gulf of Mexico. The companies own one newly delivered offshore supply vessel, fourteen mini-supply vessels (half of which were delivered within the last five years) and eight utility vessels. In addition, another offshore supply vessel is under construction and scheduled for delivery in April 2001. Brian Cheramie, the President and CEO of the companies, will continue with SEACOR in an executive position.

Charles Fabrikant, Chairman of SEACOR, commented: "The acquisition of the Cheramie vessels will continue the process of expanding and modernizing our mini-supply vessel fleet. The vessels, along with the high standards for service and safety set by the Cheramie group, will complement SEACOR well. We are quite pleased to have Brian Cheramie join the SEACOR organization."

Brian Cheramie, President and CEO of Gilbert Cheramie Boats, said: "We are enthused about joining the SEACOR organization, and look forward to working with our customers and SEACOR to expand and enhance the services that Cheramie has provided in the past."

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1955 sec (5 req/sec)