M&A Deal Summary

Helix Energy Solutions Acquires Horizon Offshore

On December 11, 2007, Helix Energy Solutions acquired energy services and equipment company Horizon Offshore from Onex Falcon for 650M USD

Acquisition Highlights
  • This is Helix Energy Solutions’ 1st transaction in the Energy Services and Equipment sector.
  • This is Helix Energy Solutions’ largest (disclosed) transaction.
  • This is Helix Energy Solutions’ 1st transaction in the United States.
  • This is Helix Energy Solutions’ 1st transaction in Texas.

M&A Deal Summary
Date 2007-12-11
Target Horizon Offshore
Sector Energy Services and Equipment
Buyer(s) Helix Energy Solutions
Sellers(s) Onex Falcon
Deal Type Add-on Acquisition
Deal Value 650M USD
Advisor(s) Lehman Brothers, Inc. (Financial)
Jones Walker (Legal)

Target

Horizon Offshore

Houston, Texas, United States
Horizon Offshore, Inc. provides marine construction services to the offshore oil and gas industry around the world. The company performs a wide range of marine construction activities, including laying, burying and repairing marine pipelines; providing hook-up and commissioning services; installing offshore production platforms and other structures; and disassembling and salvaging production platforms and other structures.

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Buyer(S) 1

Buyer

Helix Energy Solutions

Houston, Texas, United States
Category Company
Founded 1979
Sector Energy Services and Equipment
Employees2,531
Revenue 1.3B USD (2023)
DESCRIPTION

Helix Energy Solutions is an international offshore energy company that provides specialty services to the offshore energy industry with a focus on our growing well intervention and robotics operations. Helix Energy Solutions was founded in 1979 and is based in Houston, Texas.

DEAL STATS #
Overall 1 of 2
Sector (Energy Services and Equipment) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-15 Deepwater Gateway

Houston, Texas, United States

Deepwater Gateway, LLC is a provider of offshore energy services company that provides specialty services to the offshore energy industry

Sell -

Seller(S) 1

SELLER

Onex Falcon

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Onex Falcon is a mezzanine finance firm that provides junior capital for North American businesses. Falcon looks to provide $30 to $150 million of subordinated debt to companies with EBITDA of at least $10 million. Falcon has no specific industry focus. Investment proceeds are typically used to support LBOs/MBOs, growth and acquisition financings, restructuring, recapitalizations, take privates, and generational ownership transfers. Onex Falcon was formed in 2000 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 5 of 35
Sector (Energy Services and Equipment) 1 of 2
Type (Add-on Acquisition) 1 of 15
State (Texas) 2 of 9
Country (United States) 5 of 35
Year (2007) 3 of 3
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-01 Kendrick Electric

Apple Valley, Minnesota, United States

Kendrick Electric is a wholesale electrical distributor, primarily focusing on the sale of electrical supplies to commercial contractors in the Chicagoland area. Kendrick Electric distributes products from a number of leading vendors including Siemens, Cutler-Hammer, Southwire, United Copper Industries, and Allied Tube and Conduit. Kendrick Electric is based in Apple Valley, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-01 Seadrift Coke

Lavaca, Texas, United States

Seadrift Coke produces electrode grade and pin stock grade petroleum needle coke, a key ingredient for the production of steel through the electric arc furnace method.

Sell -
Mergr

Product

Company

Legal