Leonardo Antunes
BroadSpan Capital
OceanPact
Deal Type
Acquisition
Sector
Industrials
Completion Date
2nd June 2021
Deal Value
Not disclosed
Company Background
OceanPact is one of the main maritime service providers in Brazil, dedicated to the study, protection, monitoring, and sustainable use of the sea, coastline, and marine resources in Brazil. It has a well-equipped fleet of 23 Offshore Support Vessels, with over 300 employees and 15 branches in 8 Brazilian states, and subsidiaries in the Netherlands, Mexico, United Kingdom, Norway, and Uruguay.
Deal Summary
BroadSpan Capital advised OceanPact and its shareholders in
the acquisition of 5 foreign PSV (Platform Support Vessels) for $29.00 million and additional $1.15 million for the acquisition of all the quotas issued by the Brazilian companies UP Offshore Apoio Marítimo and Agriex, which own 3 Brazilian flag vessels.
The acquisition of UP Group plays a fundamental role in the execution of OceanPact’s organic expansion and sectorial consolidation plan, especially in the Subsea area, adding 2 RSV’s (ROV Support Vessel) and an OTSV (Offshore Terminal Support Vessel) in service, one of the few in operation in Brazil.
On June 1st, 2021, OceanPact’s shareholders completed a transaction involving the acquisition of UP Group Companies’s 5 foreign PSV (Platform Support Vessels) and all the quotas issued by the Brazilian companies UP Offshore Apoio Marítimo and Agriex.
Value Added
BroadSpan actively served OceanPact’s shareholders in this transaction in order to maximize its value and diminish its risks and guarantees.
