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

Offshore

Five Years on from Macondo

An interview with NOIA’s Randall Luthi provides unique perspective on where the offshore energy business has been, where it is now, and where it could be headed next.

Offshore O&G: Weathering the Storm

Vessels are stacked as Gulf oil operators retrench and day rates fall. In the Gulf of Mexico, vessels serving offshore oil-and-gas exploration and production are

Fugro Extends Contract with McDermott

Fugro has been awarded a three-year extension to its existing contracts with McDermott Middle East, Inc. The contract covers the provision of survey, positioning,

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.1557 sec (6 req/sec)