11/06/2019 | Press release | Distributed by Public on 11/06/2019 10:04
NIBC advised SEACOR Marine Holdings Inc. ('SEACOR Marine') on the sale of their wholly-owned subsidiary Boston Putford Offshore Safety ('BPOS') to North Star Shipping ('North Star'). SEACOR Marine is a US listed company, operating a fleet of offshore marine support vessels. BPOS operates a fleet of 18 Emergency Response & Rescue Vessels ('ERRVs') in the southern part of the North Sea. ERRVs are used in the offshore energy sector to provide standby safety support in case of an emergency. North Star, UK based and backed by Basalt Infrastructure Partners, operates a fleet of 31 Offshore Supply Vessels, of which 24 ERRVs, in the northern part of the North Sea. With the addition of BPOS, North Star's fleet will consist of around 50 vessels thereby expanding North Star's geographic presence to the entire North Sea. The transaction is expected to close in the beginning of December.
Based on NIBC's longstanding relationship with SEACOR Marine and in-depth knowledge of the offshore energy sector, SEACOR Marine mandated NIBC sell-side advisor for the transaction. The transaction shows NIBC's ability to act on an international level, advising on a transaction involving various parties from the US and the UK.
SEACOR Marine provides global marine and support transportation services to offshore oil and natural gas and windfarm facilities worldwide. SEACOR Marine and its joint ventures operate a diverse fleet of offshore support and specialty vessels that deliver cargo and personnel to offshore installations; handle anchors and mooring equipment required to tether rigs to the seabed; tow rigs and assist in placing them on location and moving them between regions; provide construction, well workover and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance and repair. Additionally, SEACOR Marine's vessels provide accommodations for technicians and specialists, safety support and emergency response services.