Mergers Acquisitions News

Finnish engineering firm Cargotec said on Thursday it would sell its cargo handler business MacGregor to European private equity firm Triton in a deal valued at 480 million euros ($506 million), including debt.The deal would be pursued to help its on-road load handling business, Hiab, operate as a standalone business, Cargotec said, adding that its CEO Casimir Lindholm would step down and be replaced by Hiab President Scott Phillips as a part of the arrangement.Hiab would subsequently be the only business remaining under Cargotec as a result of the deal…

BNS has acquired Carolina Power Systems (CPS), a provider of marine electrical equipment to the military shipbuilding industry, which will bolster its marine power capabilities.With the acquisition of CPS, combined with that of Cadick Corporation, BNS now offers full lifecycle solutions, services and maintenance support for military and commercial across the marine electrical system spectrum.CPS provides switchboards, motor controllers and other control and monitoring equipment for installation on U.S. Navy and Coast Guard ships.

Altera Infrastructure has entered into an agreement to sell all its membership interests in Altera Shuttle Tankers (AST) to Maistros Shiptrade, a company affiliated with the Angelicoussis Group.Altera Shuttle Tankers, a shuttle tanker provider, owns and operates 18 shuttle tankers in Brazil, Canada and the North Sea.The Angelicoussis Group is one of the world’s largest privately owned shipping groups, currently with 144 vessels on the water and 23 vessels, including three shuttle tankers…

Norwegian offshore supply vessel company DOF Group has concluded the acquisition of Denmark-based Maersk Supply Service, which will be renamed to DOF Denmark.The combined company is expected to become one of the leading offshore service provider with comprehensive scale and a wide range of services across all continents in the offshore energy industries.The deal will see DOF's fleet grow to 78 modern offshore/subsea vessels, including 65 owned, with the addition of Maersk Supply Service's 22 vessels…

German shipbuilder Luerssen and defence group Rheinmetall RHMG.DE could emerge as potential suitors for the warship division of conglomerate Thyssenkrupp TKAG.DE, two people familiar with the matter said.It comes a day after news that private equity firm CarlyleCG.O had dropped out of the process for Thyssenkrupp Marine Systems (TKMS), in what was a blow to Thyssenkrupp's ongoing restructuring and had weighed on shares.Rheinmetall and Luerssen declined comment.Thyssenkrupp referred to comments made on Tuesday, when it said it would intensify efforts to find a standalone solution for TKMS, incl

Private equity firm Carlyle has dropped out of a bidding process for the warship division of stricken conglomerate Thyssenkrupp, the German company said on Tuesday.Carlyle's withdrawal as a suitor for Thyssenkrupp Marine Systems (TKMS) is a major blow to Thyssenkrupp's restructuring, which also includes plans for a 50:50 steel joint venture with Czech billionaire Daniel Kretinsky."We can confirm that the investment company Carlyle Group has informed us that it is withdrawing from the bidding process for the investment in Thyssenkrupp's marine division," Thyssenkrupp said in a response to email

Boluda Towage has acquired Finnish harbor towage and icebreaker company Yxpila Hinaus-Bogsering (YHB), consolidating its presence in Northern Europe.The acquisitions mark another step forward in Boluda’s expansion plans as well as the entry into the Scandinavian countries by providing coverage to its clients in the Gulf of Bothnia.Operating in the ports of Kokkola, Vaasa, Raahe and Kemi, the company will add six vessels to its fleet, five of which are icebreakers.“This purchase is a further step in our consolidation in Northern Europe…

The Indian government will offload a stake of about 5% in shipbuilder Cochin Shipyard COCH.NS, an exchange filing showed on Tuesday.The floor price for the sale is 1,540 rupees, an 8% discount to the stock's Tuesday close, the filing showed. At this price, the stake is valued at 20.26 billion rupees ($241.2 million).The base size of the offer will be 2.5%, amounting to about 6.6 million shares, with an option to sell an additional 2.5% stake.The government has raised 31.61 billion rupees through divestments in the ongoing fiscal year…

Pangaea Logistics Solutions Ltd., announced a definitive agreement to purchase the remaining 50% equity ownership of its consolidated subsidiary, Nordic Bulk Partners LLC, from HS Nordic LLC, for $17.2 million in cash.The deal is expected to be completed by November 1, 2024. It will see Pangea own 100% of the equity in Nordic Bulk Partners, a joint venture established in 2019 to construct four Ice Class 1A Post-Panamax dry bulk vessels.The terms of the agreement include ownership put and call provisions, which have been negotiated and exercised a year earlier than originally stipulated.

VINCI Energies has expanded its industrial activities into a new market segment in the Netherlands with the acquisition of RH Marine and Bakker Sliedrecht, a group of two companies specializing in the maritime sector.By joining VINCI Energies’ network of companies, RH Marine and Bakker Sliedrecht are helping to enhance the division’s offering in the industrial services market and strengthen its presence in the Netherlands.Founded in 1860, RH Marine is a system integrator that…

Mitsui O.S.K. Lines (MOL) has announced plans to merge its three subsidiaries focused on maritime technology and engineering to form a professional technical hub focused on maritime industry and decarbonization.In an absorption merger move, MOL will unite MOL Marine & Engineering (MOLMEC), MOL Ocean Expert, and MOL Ship Tech, effective April 1, 2025, with MOLMEC as the surviving company.The new company, as a professional technical group, will offer services ranging from maritime and new shipbuilding consulting…

Australia's Macquarie has engaged advisors for a potential sale of its subsidiary Corio Generation, one of the world's largest offshore-wind developers, two sources with knowledge of the matter said on Tuesday.Corio oversees a 30-gigawatt pipeline of offshore wind projects spanning Europe, Asia-Pacific, and the Americas. It includes 5 GW of projects across the UK such as West of Orkney in Scotland and Outer Dowsing off the east coast of England.Macquarie plans to gauge interest from a handful of strategic and financial investors later this year for a full or minority stake sale…

Delmar Systems AS announced it has acquired IKM Mooring Services, expanding its footprint in Norway.As part of the acquisition, Delmar Systems will integrate IKM Mooring Services' operations into its existing framework."We are excited to welcome the IKM Mooring Services team and their valued clients into the Delmar Systems family," said Jørund Havnerås, Managing Director – Delmar Systems AS. "This acquisition represents a pivotal moment for our company as we broaden our service capabilities and enhance our offerings in Norway.

Stolt Tankers announced the expansion of its Stolt NYK Asia Pacific Services (SNAPS) pool with the addition of a vessel from SU Navigation, in partnership with NYK Line and ENEOS Ocean.Maren Schroeder, President, Stolt Tankers, said “By adding tonnage from SU Navigation, a top-tier platform, Stolt Tankers reinforces its commitment to delivering superior value in a competitive market.“Combining the expertise and resources of Stolt Tankers and NYK Line allows our SNAPS business…

DNV acquired CyberOwl, a global presence in cyber risk monitoring and threat management onboard maritime vessels, which comes at a time when maritime must comply with a wealth of new cyber security regulation and invest in incident detection, response and recovery as increasing implementation of digitally connected systems onboard vessels create new vulnerabilities. CyberOwl provides vessel operators with analytics to identify, monitor and manage cyber threats, and evidence regulatory compliance.

Spliethoff Group announced it has acquired a majority interest in ForestWave, making the fellow Dutch shipping company its seventh business unit effective September 30. With this expansion, Spliethoff Group's fleet of commercially operated vessels grows to more than 140.On behalf of the Executive Board of Spliethoff Group, CFO Ingmar Bras and CCO Michael van den Heuvel emphasized the importance of this step: "After so many years of constructive and pleasant cooperation with ForestWave, formalizing this cooperation is a logical step.

Fairbanks Morse Defense (FMD) on Thursday announced it has struck a deal with Rolls-Royce to acquire its naval propulsors and handling business. The acquisition will include a range of propellers and waterjets for naval applications, as well as marine handling systems, which enable the deployment and recovery of manned and unmanned craft, and other cargo, from naval vessels.“When you look at the 150-year history of Fairbanks Morse Defense, you will find a handful of distinctive moments that completely transformed this company.

Offshore drilling contractor Seadrill is looking to buy more assets or create a larger player by merging with peers, the company's CEO said on Wednesday.Norwegian-born billionaire John Fredriksen lost the control of the company, once the world's largest driller by market cap, to its creditors over two debt restructurings since 2014.Now a much leaner and smaller company, New York-listed Seadrill itself is looking to buy distressed assets or players with "distressed balance sheets"…

U.S.-based offshore drilling contractor Noble Corporation on Wednesday announced it has completed its acquisition of peer Diamond Offshore Drilling. The merger creates the industry's largest fleet of 7th generation dual-BOP drillships and adds 4.8 rig years and approximately $2 billion to the Noble backlog, which now stands at $6.7 billion.Noble's board of directors has appointed Patrice Douglas from the Diamond board of directors to serve as a new director of Noble.Robert W.

Sweden-based fire, flame and gas safety solutions company Consilium Safety Group on Tuesday announced it has acquired Daspos, a Danish fire safety company specialized in detection of gas, oil mist and fuel vapors. Daspos has developed a unique and patented detection sensor technology, that can predict the risk of fire in the engine room of all types of vessels. The acquisition follows a multi-year collaboration between Daspos and Consilium and marks a significant milestone in bringing increased fire safety in the marine industry."I am pleased and excited that Daspos is joining Consilium.

Danish shipping company Norden said on Tuesday that it has closed its acquisition of Nordic dry bulk operator Norlat Shipping.The deal was announced in July but remained subject to regulatory approvals. Financial terms were not disclosed. “We are delighted to have received the green light for the acquisition last week and with the closing of the acquisition today we look forward to welcoming the Norlat Shipping team and customers,” said Norden CEO Jan Rindbo. “Norlat is a skilled niche operator and a great addition to our growing projects and parceling activities…

Adani Ports and Special Economic Zone said on Friday it will buy a majority stake in an offshore support vessel operator for $185 million, expanding its fleet and diversifying beyond port operations.Astro Offshore, in which Adani Ports will buy an 80% stake, owns a fleet of 26 vessels including barges and workboats, counting miner NMDC and construction bellwether Larsen and Toubro as its customers."Astro will add... to our current fleet of 142 tugs and dredgers...

Mitsui O.S.K. Lines, Ltd. completed the purchase on the market of 89,500 shares of common stock of MODEC, Inc. and along with the 10,162,300 shares already acquired in June 2023, MOL now holds a 15% stake in MODEC and will make it an equity-method affiliate.MODEC is a leading company in the offshore oil and gas development industry, engaging in the entire process from Engineering, Procurement, Construction, and Installation (EPCI) of Floating Production, Storage, and Offloading (FPSO) systems to long-term leases and Operations & Maintenance (O&M) for more than 20 years.