M&A Activity • Mar 29, 2023
M&A Activity
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ADS Maritime Holding Plc acquires stake in Dive Support Vessel
ADS Maritime Holding Plc (“the Company”) has acquired a 10% stake in a Dive Support Vessel and will act as Commercial Manager with primary responsibility for following up the shipowning company's activities related to the vessel and the bareboat contract.
The vessel “Southern Star” is a high spec DP3 Dive Support Vessel (“DSV”) built in 2017, well suited for light subsea construction work (150t subsea crane) and advanced dive support work with accommodation for approximately 120 pax. The vessel was delivered 28 March 2023 and will be employed on a 5-year bareboat contract, with a further sub-charter bareboat contract to a major provider of fully integrated subsea services.
The acquisition is part of the Company’s strategy of opportunistic growth within shipping and offshore, where the Company during 2022 and 2023 has taken positions within the Shuttle, VLCC, MR and subsea segments.
Contact:
Anders Hall Jomaas, CFO +47 400 42 918 [email protected]
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