Harvey Gulf to Acquire ACO's Offshore Vessels and Related Assets

MarineLink.com
Thursday, September 12, 2013
Photo: Abdon Callais Offshore, LLC

Harvey Gulf International Marine, LLC and Abdon Callais Offshore, LLC (ACO) have executed a definitive agreement whereby Harvey Gulf is to purchase substantially all of ACO’s assets and business. Purchase includes 48 offshore supply vessels (OSVs), of which four are currently under construction.

With its roots in the Callais family tracing back to 1945 and under the later leadership of Harold J. Callais followed by his sons, ACO has long been recognized in the industry as a high quality marine transportation company providing multiple sized, technologically advanced OSVs and related services to oil and gas exploration and production companies and service providers primarily working in the U.S. Gulf of Mexico market.

ACO has one of the youngest and largest fleets operating in the U.S. Gulf of Mexico with a focus on providing a wide variety of cargo and personnel transportation services to both shallow water and deepwater locations. Of ACO’s 48 vessel fleet, 92% is dynamically positioned (DP1 or DP2) and 58% is of 205 feet in length and longer.

This acquisition expands Harvey Gulf’s vessel classes and allows Harvey Gulf to broaden its service offering to customers in the U.S. Gulf of Mexico. The transaction is expected to close in Q4 2013.

Mayer Brown LLP has served as legal advisor to Harvey Gulf in connection with the transaction.

Raymond James & Associates, Inc. has served as financial advisor, and Baldwin Haspel Burke and Mayer, LLC has served as legal advisor, to ACO in connection with the transaction.

harveygulf.com
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

Shipbuilding

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

SAFE Boats Delivers First CIV for Air and Marine Operations

SAFE Boats International (SBI), a manufacturer of aluminum boats located in Bremerton, Wash., has completed the first Coastal Interceptor Vessel (CIV) on contract from U.

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

News

US Hospital Ship Aids South Korean Sailor

A U.S. hospital ship conducted a medical evacuation, or “medevac”, May 27 to assist an ailing Republic of Korea sailor aboard a Republic of Korea Navy (ROK-N) submarine.

Details El Faro's Sinking Emerge from US Probe

U.S. investigators on Friday concluded two weeks of hearings into the sinking of cargo ship El Faro in a hurricane last fall that included reports the vessel had

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

Vessels

Hansa Offenburg, Hansa Drakenburg Sail Scale-free

Leonhardt & Blumberg was founded in 1903 and has managed more than 180 vessels, the majority of which were general cargo vessels and bulk carriers. Today the company

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

SAFE Boats Delivers First CIV for Air and Marine Operations

SAFE Boats International (SBI), a manufacturer of aluminum boats located in Bremerton, Wash., has completed the first Coastal Interceptor Vessel (CIV) on contract from U.

Mergers & Acquisitions

Konecranes-Terex Deal to Proceed as Zoomlion Drops Rival Bid

China's Zoomlion Heavy Industry Science and Technology Co Ltd has abandoned its $3.4 billion bid for U.S. crane maker Terex Corp , clearing the way for a smaller

SCA Applauds Funding for New US Ships

The Senate Appropriations Committee this week acknowledged calls for increasing the Navy’s ship count, funding the construction of 10 new ships, as well as providing the U.

Tideland Signal Acquires Julius Signal

Tideland Signal Corporation, now part of Xylem, has entered into a definitive agreement to acquire certain assets of Julius Signal, extending the company’s portfolio

 
 
Maritime Contracts Maritime Security Navigation Pipelines Pod Propulsion Port Authority Salvage 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: 0.1928 sec (5 req/sec)