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

Offshore

MN 100: Bordelon Marine

The Company: Founded in 1979, Bordelon Marine is a leading provider of Marine Transportation services operating in the Gulf of Mexico and around the world. The

Migrant Boat Sinks off Libya; 200 Feared Dead

A boat packed with mainly African migrants bound for Italy sank off the Libyan coast on Thursday and officials said up to 200 might have died. A security official in the western town of Zuwara,

Yamal LNG Arctic Project in Doldrums

The massive $27 billion Yamal LNG liquefied-natural-gas venture in the Arctic Circle, a centerpiece of President Vladimir Putin’s plan for Russia has been squeezed by U.

Mergers & Acquisitions

TASI Acquires SignalFire Telemetry

TASI HOLDINGS INC. announced today it has completed the acquisition of all shares of SignalFire Telemetry, located in Hudson, Massachusetts.  This new acquisition

IRS Opens Office in Abu Dhabi

Indian Register of Shipping (IRClass), a leading Classification Society, today announced it has opened offices in Abu Dhabi. Abu Dhabi is the second office

CFSAI Shifts to New Office in New Mumbai

Container Freight Station Association of India (CFSAI) has set up a full-fledged Secretariat and moved to its new office at “Anchorage Building” in Dronagiri  Node on 26th August 2015.

 
 
Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.3408 sec (3 req/sec)