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M&A Deal Summary

MHI Ship Repair & Services Acquires Seaward Services

On March 31, 2017, MHI Ship Repair & Services acquired marine company Seaward Services

Acquisition Highlights
  • This is MHI Ship Repair & Services’ 2nd transaction in the Marine sector.
  • This is MHI Ship Repair & Services’ 2nd transaction in the United States.
  • This is MHI Ship Repair & Services’ 1st transaction in Florida.

M&A Deal Summary
Date 2017-03-31
Target Seaward Services
Sector Marine
Buyer(s) MHI Ship Repair & Services
Deal Type Add-on Acquisition

Target

Seaward Services

Dania Beach, Florida, United States
Seaward Services, Inc. is a provider of underwater hull cleaning and ship husbandry services, including underwater painting, inspections, repairs and maintenance, testing, and other specialized diving services, primarily to the U.S. Navy, as well as other commercial and government customers. Seaward has delivered mission critical support to the U.S. Navy for over 35 years out of its Norfolk-based headquarters and offices in Florida, California, Hawaii and, Japan. Seaward Services, Inc. was founded in 1981 and is based in Dania Beach, Florida.

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Buyer(S) 1

Buyer

MHI Ship Repair & Services

Norfolk, Virginia, United States
Category Company
Founded 1952
Sector Marine
Employees500
DESCRIPTION

MHI Ship Repair & Services is a marine repair and conversion contractor serving Commercial ship owners, the U.S. Navy, Military Sealift Command and Maritime Administration, and operators worldwide. MHI Ship Repair & Services was established in 1952 and is based in Norfolk, Virginia.

DEAL STATS #
Overall 2 of 2
Sector: Marine M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: Florida M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-31 Accurate Marine Environmental

Portsmouth, Virginia, United States

Accurate Marine Environmental performs bilge and tank cleaning, chemical cleaning, gas free engineering, and the removal of hazardous and non-hazardous materials for the U.S. Navy and commercial industries. AME, also headquartered in Norfolk, VA, performs work primarily across the East Coast of the U.S., including Virginia and Florida. Company based in Portsmouth, Virginia.

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