Candy Marine Investment Corporation News

Hornbeck Offshore Acquires Five Deepwater OSVs

Hornbeck Offshore Services, Inc. has acquired five 220-ft. class deepwater offshore supply vessels and their related business from Candy Marine Investment Corporation, an affiliate of Candy Fleet Corporation,for an undisclosed amount of cash and common stock of the Company. Candy Fleet is a privately held marine vessel operator in the Gulf of Mexico. Hornbeck funded the cash portion of the purchase price with a combination of borrowings under the Company's revolving credit facility and proceeds from a private offering of the Company's common stock. In connection with such private offering, which was primarily undertaken to fund a portion of the acquisition costs…