Tidewater's fleet to grow to 231 units following acquisition of Brazil's Wilson Sons
U.S. offshore vessel operator Tidewater is set to see an increase in its global vessel fleet size to 231 units thanks to the acquisition of Brazilian shipping company Wilson Sons.
Tidewater has entered into a definitive agreement to acquire all of the outstanding shares of Wilson Sons Ultratug Participações and its affiliate Atlantic Offshore Services (WSUT) at an enterprise value of approximately $500 million, including the assumption of WSUT’s existing debt.
WSUT’s fleet consists of 22 platform supply vessels (PSVs) and following the transaction, Tidewater will own a fleet of 213 offshore support vessels (OSVs), bringing its total global fleet size to 231 vessels, including crew boats, tug boats and maintenance vessels.
The acquisition will also expand Tidewater’s current fleet of 6 vessels in Brazil to a total of 28. According to the company, WSUT’s 19-unit-strong fleet of Brazilian-built vessels would enable Tidewater to import international-flagged vessels into Brazil under the Brazilian Special Registry (REB).
“The Brazilian offshore vessel market is one of the largest and most compelling in the world and the addition of WSUT
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