Divestiture • Energy Services and Equipment

Hercules Offshore Acquires Liftboat Titan 2

On February 27, 2013, Hercules Offshore acquired energy services and equipment company Liftboat Titan 2 from KS Distribution for 42M USD

Acquisition Context
  • This is Hercules Offshore’s 4th transaction in the Energy Services and Equipment sector.
  • This is Hercules Offshore’s largest (disclosed) transaction.
  • This is Hercules Offshore’s 1st transaction in Cameroon.

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M&A Deal Summary

Date February 27, 2013
Target Liftboat Titan 2
Sector Energy Services and Equipment
Buyer(s) Hercules Offshore
Sellers(s) KS Distribution
Deal Type Divestiture
Deal Value 42M USD

Target Company

Liftboat Titan 2

Limbe, Cameroon
Liftboat Titan 2 is a 280 foot class vessel, registered and flagged in Panama, and currently located in Limbe, Cameroon.
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Buyer Overview 1

Buyer

Hercules Offshore

Houston, Texas, United States

Category Company
Founded 2004
Sector Energy Services and Equipment
Employees1,800
Revenue 900M USD (2014)
DESCRIPTION

Hercules Offshore, Inc. is a provider of offshore contract drilling, liftboat and inland barge services with operations in nine countries on four continents. Its fleet of jackup rigs is the fourth largest in the world and the largest in the U.S. Gulf of Mexico, and it owns and operates the largest liftboat and inland barge drilling fleets in the world.


Deal Context for Buyer #
Overall 4 of 5
Sector: Energy Services and Equipment 4 of 5
Type: Divestiture 2 of 2
Country: Cameroon 1 of 1
Year: 2013 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-20 TODCO Mexico

Houston, Texas, United States

TODCO Mexico Inc. offers a range of services to oil and gas producers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-24 Hercules Offshore - Domestic Liftboats

United States

Hercules Offshore - Domestic Liftboats includes 29 marketed liftboats, 10 cold-stacked liftboats, and related assets.

Sell $54M

Seller Profile 1

SELLER

KS Distribution

Singapore, Singapore

Category Company
Founded 2010
Sector Distribution
DESCRIPTION

KS Distribution is the largest oil & gas and marine products distribution business with more than 60,000 product lines across nine countries. KS Distribution was formed in 2010 and is based in Singapore.


Deal Context for Seller #
Overall 1 of 1
Sector: Energy Services and Equipment 1 of 1
Type: Divestiture 1 of 1
Country: Cameroon 1 of 1
Year: 2013 1 of 1
Size (of disclosed) 1 of 1