M&A Deal Summary

Clough Acquires Ocean Flow International

On August 14, 2009, Clough acquired energy services and equipment company Ocean Flow International from Superior Offshore International

Acquisition Highlights
  • This is Clough’s 1st transaction in the Energy Services and Equipment sector.
  • This is Clough’s 1st transaction in the United States.
  • This is Clough’s 1st transaction in Texas.

M&A Deal Summary

Date 2009-08-14
Target Ocean Flow International
Sector Energy Services and Equipment
Buyer(s) Clough
Sellers(s) Superior Offshore International
Deal Type Divestiture

Target

Ocean Flow International

Houston, Texas, United States
Ocean Flow International LLC is a deepwater subsea project engineering and offshore project management services firm.

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Buyer(S) 1

Buyer

Clough

Perth, Australia

Category Company
Sector Engineering
Revenue 625M AUD (2013)
DESCRIPTION

Clough is an engineering and project services contractor servicing the Energy & Chemical and Mining & Mineral markets in Australia and Papua New Guinea. Our services range from early concept evaluation and feasibility studies through design, construction, commissioning and long term asset support and optimisation.


DEAL STATS #
Overall 1 of 1
Sector: Energy Services and Equipment M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2009 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-08 Clough - Marine Construction Division

Australia

Clough's offshore Marine Construction Division includes the derrick lay barge, Java Constructor, and associated marine construction equipment. Also included will be Clough’s interest in the Clough Helix Joint Venture, which operates the chartered Normand Clough vessel, and its investments in specialist engineering businesses, OFI and Peritus. Relevant contracts including the Chevron Gorgon Domestic Gas pipeline project are proposed to be novated.

Sell AU$127M

Seller(S) 1

SELLER

Superior Offshore International

Houston, Texas, United States

Category Company
Founded 1986
Sector Energy Services and Equipment
DESCRIPTION

Superior Offshore International, Inc. is a provider of subsea construction and commercial diving services to the offshore oil and gas industry, serving operators internationally and domestically in the outer continental shelf of the U.S. Gulf of Mexico.


DEAL STATS #
Overall 1 of 1
Sector: Energy Services and Equipment M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-23 Ocean Flow International

Houston, Texas, United States

Ocean Flow International LLC is a deepwater subsea project engineering and offshore project management services firm.

Buy $15M