Harkand Set to Acquire Veolia Marine Services

MarineLink.com
Monday, May 20, 2013
Photo: Harkand

Harkand, the international subsea inspection, repair, maintenance and light construction group, announced an agreement to acquire the main assets and business of Veolia Marine Services (VMS).

The acquisition will add 150 onshore and offshore staff, three dynamically-positioned multi-purpose vessels (MSV), and six work-class remotely operated vehicles (ROVs) to Harkand’s growing workforce and fleet.

With Harkand already active in the North Sea, Asia Pacific and Africa, this acquisition will expand its international reach by adding a Houston operation with a track-record in deepwater inspection, repair and maintenance in the Gulf of Mexico.

Harkand was launched in February 2013 through the merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management. Employing over 750 people at bases in Aberdeen in the UK, Dubai in the Middle East and Singapore and Perth in Asia Pacific, the group aims to grow turnover to $1 billion in the next five years.

VMS has experience in subsea inspection, repair, maintenance and light construction with clients including BP, Chevron and Petrobras, and has worked on deepwater and ultra-deepwater projects including Cascade Chinook, as well as experience in decommissioning and light subsea construction support.

The company’s assets included in the transaction are the DP2 multi-purpose support vessel Swordfish with a nine-man saturation diving system and two Triton XLS ROVs onboard; the DP3 multi-purpose support vessel Viking Poseidon, with two Triton XLS ROVs onboard; and the DP3 multi-purpose support vessel Normand Pacific with two Triton XLS/XLX ROVs onboard.

The management teams of Harkand and VMS, supported by Harkand shareholder Oaktree Capital Management, will work closely together on the business integration.

The transaction is subject to certain standard regulatory conditions including authorisation of the transaction by the U.S. anti-trust authorities. The deal is expected to complete in June 2013.

 

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

Offshore

Upcoming Expo 'Offshore Marintec Russia'

ExpoForum Convention and Exhibition Centre in St. Petersburg, October 7-10  will host the International Specialised Offshore Exhibition and Conference 'Offshore

RWE Dea Awarded Two New Concessions in Egypt

In the International Bid Round 2013, RWE Dea has been awarded two new offshore concessions with operatorship by the Egyptian General Petroleum Corporation (EGPC).

TRIYARDS' Liftboat Orderbook Filling up

*This new order brings total liftboat contracts to date to 14, and showcases TRIYARDS’ engineering versatility * Win affirms TRIYARDS' leadership position as

Mergers & Acquisitions

EMS Seven Seas Announces New CEO

EMS Seven Seas announces new CEO; enters into agreement to acquire Wave Shipping, a Singapore-based maritime and port agency services company. EMS Seven Seas,

Fugro Takes Delivery of 2nd Coastal Survey Vessel from Damen

Fugro yesterday took delivery of its second of the three Fugro Offshore Coastal Survey Vessels (FOCSV) being built by Damen. The Fugro Pioneer is a compact,

Maersk Sells Ven Drilling Barges

Danish shipping conglomerate A.P. Moller-Maersk said on Tuesday its offshore oil and gas drilling unit has sold its Venezuelan barge activities. Maersk Drilling

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage 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: 0.0906 sec (11 req/sec)