MMA Offshore Acquires Neptune Marine Services

Wednesday, July 24, 2019

Australian offshore services company MMA Offshore said it has entered into an agreement to acquire the business of compatriot subsea services firm Neptune Marine Services by acquiring NMS's key operating subsidiaries.

The purchase consideration, which is expected to total approximately A$18.5 million, would comprise $5 million cash with the balance of the consideration to be issued in MMA shares on completion.

MMA Managing Director, Jeffrey Weber, said, “The acquisition of the Neptune business represents an important step in MMA’s strategy to expand its subsea service offering to existing and new clients.

“Combining MMA’s vessel assets with NMS’s subsea equipment and technical expertise will result in a stronger service offering to both MMA’s and NMS’s existing clients and provide an opportunity for MMA to capture a greater proportion of the value chain.

“Importantly, the services that NMS provides do not directly compete with our existing clients in the sector and we continue to see these partnerships as a key platform in our subsea strategy going forward.

“The acquisition is expected to enhance MMA’s return on assets through packaging value adding services to our vessels.

“As the offshore market improves, we expect the combined business to benefit from a recovery in offshore and subsea investment.”

Categories: Vessels Mergers & Acquisitions Industry News Subsea

Related Stories

Supply-side Paradox in a Supermajor Exit

Aasta Hansteen Output Can Exceed Max Capacity

Subsea 7 CEO Will Retire at Year End

What Became of the Toisa OSV Fleet?

Baltim South West Gas Field Starts Production

Kim Heng Offshore Wins New HDD Contract

Jan De Nul Enters French Offshore Wind Market

Tullow Makes Second Discovery Offshore Guyana

ExxonMobil Looks to Sell Australian Assets

P-68 FPSO Ready for Deployment

Current News

Australia Reviewing Equinor Environmental Plan

Equinor, SSE Win Contract for Largest Offshore Wind Project

Liberator Pilot Well Plugged and Abandoned

Petrofac Sells Mexico Assets to Perenco

Petronas Q2 Profit Rises 8%

Allseas Scores Gyda Platform Removal Job

Monitoring, and Addressing, Crude Quality in Real-time

Dominion to Build Largest US Offshore Wind Farm

Maersk Drilling Rig Extended by Equinor

IUMI Reports Cut in Offshore Insurance Premiums

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week