Svitzer Acquires Two-Thirds Stake in Buksér og Berging
Svitzer Group A/S, global towage and marine solutions provider, has acquired a 66.6% stake in Norwegian towage and marine service company, Buksér og Berging AS, subject to final regulatory approvals. Svitzer’s investment represents a partnership opportunity for both companies, with a view to leverage extensive shared knowledge and experience of the global towage, offshore, adjacent maritime service and marine solution markets.There is no integration activities related to the transaction…
IES Holdings to Acquire Gulf Island Fabrication
IES Holdings, Inc. and Gulf Island Fabrication, Inc. announced that they have entered into a definitive agreement, providing for the acquisition of Gulf Island, a leading steel fabricator and service provider to the industrial, energy and government sectors, by IES. Under the terms of the agreement, IES will pay $12.00 in cash per Gulf Island share, or an aggregate equity value of approximately $192 million.The transaction has been approved by the boards of directors of both companies and is currently expected to close in the quarter ending March 31…
Fairbanks Morse Defense to Acquire Vestdavit
Vestdavit, a European supplier of advanced davit systems, has entered a new phase in its development through a landmark transaction under which it will be wholly acquired by Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management. The acquisition provides Vestdavit with a stronger commercial platform to drive growth and expand globally across its core naval and offshore energy markets.Under the agreement, Fairbanks Morse Defense a leading provider of OEM parts…
Alewijnse Joins Oceanco Group
Maritime systems integrator Alewijnse has joined the Oceanco Group, a leader in the yacht sector.With this step forward, Alewijnse is entering a new phase following seven years as a portfolio company of Strong Root Capital. During this period the company strengthened and professionalized its operations, which now enables it to accelerate its proven course with greater momentum.Alewijnse brings more than 135 years of experience in electrical engineering and automation, during which it has built on its position as a leading partner across the yachting…
New CEO Takes Reins of LDA as InfraVia Becomes Majority Shareholder
The Louis-Dreyfus family, shareholder of Louis Dreyfus Armateurs (LDA), and InfraVia Capital Partners, a leading independent private equity company in Europe, have completed the strategic transaction in which InfraVia, through its InfraVia European Fund VI, has acquired an 80% majority stake in LDA.The Louis-Dreyfus family retains a 20% share, with Edouard Louis-Dreyfus remaining President of the group.Further to this operation, Louis Dreyfus Armateurs will soon be renamed LD Armateurs (LDA).Effective July 1…
Germany: Heinrich Rönner and Lürssen Place Their Bids for FSG and Nobiskrug Shipyards
The future of the two insolvent German shipyards, Flensburger Schiffbau-Gesellschaft (FSG) and Nobiskrug, looks brighter as Lürssen Group moves to place a formal bid to take over the facilities of the Nobiskrug shipyard, while Heinrich Rönner Group agrees to buy the FSG.The insolvency administrators, Christoph Morgen of Brinkmann & Partner and Hendrik Gittermann of REIMER, said they would accept the offers in the week following the official opening of insolvency proceedings.Lürssen…
HII Intends to Acquire SC-based Metal Fabricator
HII announced today that it has entered into a definitive agreement to acquire substantially all of the assets of W International SC, LLC and Vivid Empire SC, LLC (collectively “W International”), a South Carolina-based complex metal fabricator specializing in the manufacture of shipbuilding structures, modules and assemblies.Upon completion of the transaction, the manufacturing facility in Goose Creek, South Carolina, will operate within HII’s Newport News Shipbuilding (NNS) division.
