All-Cash Deal, Expanding Brazil FootprintTidewater Inc. (NYSE: TDW) has signed a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively, WSUT) in an all-cash
All-Cash Deal, Expanding Brazil Footprint
Tidewater Inc. (NYSE: TDW) has signed a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively, WSUT) in an all-cash transaction valued at approximately $500 million, including the assumption of existing debt.
The acquisition significantly strengthens Tidewater’s position in the global offshore support vessel (OSV) market while marking a decisive expansion in Brazil — one of the world’s most active offshore energy regions.
WSUT brings a fleet of 22 platform supply vessels (PSVs) to Tidewater. Pro forma for the transaction, Tidewater will own 213 OSVs and a total global fleet of 231 vessels, including crew boats, tug boats and maintenance vessels.
The deal also dramatically expands Tidewater’s presence in Brazil, increasing its fleet in the country from six vessels to 28. According to Tidewater President and CEO Quintin Kneen, that scale is critical. “The Brazilian offshore vessel market is one of the largest and most compelling in the world,” Kneen said. “WSUT presents a unique opportunity to enter Brazil in scale with a fleet that is almost 90% Brazilian-built.”
Nineteen of WSUT’s 22 PSVs were built in Brazil — a key strategic asset. Brazilian-built vessels receive priority
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