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 November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

DNV GL Targets Safer Approach to Subsea Lifting

The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP).

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1019 sec (10 req/sec)