Simmons Company International News

EnerMech has signalled it’s about to step up international expansion with the appointment of mergers and acquisitions expert Ingrid Stewart. Mrs Stewart has joined the mechanical engineering group from investment bank Simmons & Company International where she was a director specialising in corporate finance. A chartered accountant, she takes on the newly created role of Corporate Development Director, as the Aberdeen-based oil and gas services company embarks on a new phase of acquisitions and strategic joint ventures.

Nicosia, Cyprus – Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, today announced that DryShips Inc.’s previously announced public offering of Ocean Rig common shares has been upsized to 10,000,000 common shares and priced at a price to the public of $16.25 per share. All net proceeds from the sale of the common shares will be received by DryShips as the selling shareholder. The offering is expected to close on April 17, 2012. DryShips has also granted the underwriters a 30-day option to purchase up to 1,500,000 additional common shares. Deutsche Bank Securities and Credit Suisse are acting as joint book-running managers for the offering…

Athens, Greece – Dry Ships Inc., a global provider of marine transportation services for dry bulk and petroleum cargoes and off-shore contract drilling oil services, announced that it is offering 9,000,000 common shares of Ocean Rig UDW Inc. (“Ocean Rig”) which it owns in an underwritten public offering pursuant to Ocean Rig’s registration statement on Form F-1, filed with the Securities and Exchange Commission. Dry Ships also intends to grant the underwriters a 30-day option to purchase up to 1,350,000 additional common shares to cover over-allotments. Deutsche Bank Securities and Credit Suisse are acting as joint book-running managers for the offering…

Hornbeck Offshore Services has filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock. Hornbeck Offshore plans to use the net proceeds to the Company from the proposed offering to fund a portion of the costs of the construction of ocean-going, double-hulled tank barges, the retrofit of certain existing vessels, possible future acquisitions or additional new vessel construction, and for general corporate purposes. The underwriting group will be co-led by Goldman, Sachs & Co. Company, Inc., with Goldman Sachs & Co. acting as sole book-runner. International and Johnson Rice & Company, L.L.C. will act as co-managers.

Dresser-Rand Group Inc. has priced its initial public offering of 27,000,000 shares of common stock at $21.00 per share. All of the shares are being offered by Dresser-Rand Group Inc. Morgan Stanley & Co. Incorporated and Citigroup Global Markets Inc. are serving as joint book-running managers of the offering. UBS Securities LLC is co-lead manager of the offering, and Bear, Stearns & Co. Inc., Goldman, Sachs & Co., Lehman Brothers Inc., Natexis Bleichroeder Inc., Simmons & Company International and Howard Weil Incorporated are co-managers of the offering. Dresser-Rand Group Inc. has granted the underwriters an option to purchase up to an additional 4,050,000 shares at the public offering price to cover over-allotments, if any.

Acteon has completed the acquisition of three companies from the Aberdeen-based Craig Group. They are Seatronics, International Mooring Systems (IMS) and Chain Corporation International (ChainCo). David Currie will continue to lead Seatronics; and Alan Duncan will head IMS and ChainCo. Both will report to Acteon Vice President Bernhard Bruggaier. The activities of IMS and ChainCo are very much in line with existing Acteon companies InterMoor and Trident – the two new companies will considerably improve Acteon’s overall offering in the moorings market. As a whole, InterMoor and IMS together will possess the world’s largest inventory of mooring equipment available for rental. The acquisition of Seatronics provides an entry for Acteon into the advanced marine survey sector.

Transocean Inc. and GlobalSantaFe Corporation said that their boards of directors have unanimously approved a definitive agreement for a merger of equals. Based upon closing prices for each company's ordinary shares as of July 20, 2007, the estimated enterprise value of the combined company would be approximately $53 billion. The combined company, to be known as Transocean Inc., will retain principal offices in Houston and trade on the New York Stock Exchange with the symbol RIG. Under the terms of the agreement, Transocean shareholders will receive $33.03 in cash and 0.6996 shares of the combined company for each share of Transocean they own. GlobalSantaFe shareholders will receive $22.46 in cash and 0.4757 shares of the combined company for each share of GlobalSantaFe they own.

Hercules Offshore, Inc. entered into a definitive merger agreement pursuant to which Hercules Offshore will acquire 100% of the outstanding stock of TODCO in a stock and cash transaction valued at approximately $2.3 billion. The combined company will operate a fleet of 33 jackup rigs, 27 barge rigs, 64 liftboats, three submersible rigs, nine land rigs and one platform rig and have operations in ten different countries on five continents. The boards of directors of Hercules Offshore and TODCO unanimously approved the transaction. Closing of the transaction is subject to regulatory approvals and other customary conditions, as well as both Hercules Offshore and TODCO shareholder approval.

Teekay Offshore Partners L.P. announced that it has priced its initial public offering of 7,000,000 of its common units at $21.00 per unit. The 7,000,000 common units represent a 35.0% limited partner interest in the master limited partnership and the offering will increase to 8,050,000 common units if the underwriters exercise in full their over-allotment option. Teekay Shipping Corporation owns the remaining interests in the partnership, including common units, subordinated units, incentive distribution rights and its 2% general partner interest. Citigroup Corporate and Investment Banking and Merrill Lynch & Co. acted as joint book-running managers and representatives of the underwriters, which include Morgan Stanley, A.G.

PetroCom LLC has entered into a binding agreement to be acquired by an affiliate of H.I.G. Capital, a Miami-based private investment firm. Headquartered in New Orleans, LA, PetroCom is a leading cellular carrier in the Gulf of Mexico and a full-service telecommunications solutions provider for the offshore industry. PetroCom President Ken Wright commented, "We are thrilled to partner with a premier private equity firm as we enter our next stage of growth. H.I.G.'s investment represents an important milestone in our Company's history, and their support will enable us to significantly expand our footprint. Earlier this year H.I.G., through its Bayside Capital affiliate…