M&A Deal Summary

Tidewater Acquires Swire Pacific Offshore Operations

On March 9, 2022, Tidewater acquired real estate company Swire Pacific Offshore Operations from Swire Pacific for 190M USD

Acquisition Highlights
  • This is Tidewater’s 1st transaction in the Real Estate sector.
  • This is Tidewater’s 2nd largest (disclosed) transaction.
  • This is Tidewater’s 1st transaction in Singapore.

M&A Deal Summary
Date 2022-03-09
Target Swire Pacific Offshore Operations
Sector Real Estate
Buyer(s) Tidewater
Sellers(s) Swire Pacific
Deal Type Divestiture
Deal Value 190M USD

Target

Swire Pacific Offshore Operations

Singapore, Singapore
Swire Pacific Offshore Operations is a marine services provider which owns and operates a diverse fleet of more than 50 vessels, including Anchor Handling Tug Supply (AHTS) Vessels, Platform Supply Vessels (PSV) and a Seismic Survey Vessel. Swire Pacific Offshore Operations was founded in 1975 and is based in Singapore.

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Buyer(S) 1

Buyer

Tidewater

Houston, Texas, United States
Category Company
Founded 1956
Sector Energy Services and Equipment
Employees5,400
Revenue 1.0B USD (2023)
DESCRIPTION

Tidewater provides offshore vessel services in support of all phases of offshore exploration, field development and production, including towing of, and anchor handling for, mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover and production activities; offshore construction, ROV operations, and seismic and subsea support; and a variety of specialized services such as pipe and cable laying. Included within the company’s offshore service vessel fleet are vessels that are operated under joint ventures, as well as vessels that have been stacked or withdrawn from service. Tidewater was founded in 1956 and is based in Houston, Texas.

DEAL STATS #
Overall 6 of 6
Sector (Real Estate) 1 of 1
Type (Divestiture) 2 of 2
Country (Singapore) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-14 Troms Offshore Supply AS

Oslo, Norway

Troms Offshore Supply AS is a supplier of high quality offshore services. Troms Offshore Supply currently own six large modern clean design Platform Supply Vessels (PSV). Troms Offshore Supply AS also has an office in Oslo, where Chief Executive Officer Mårten Lunde, Chief Financial Officer Erik Evjen and Vice President Chartering Leif Tarberg are located.

Buy $395M

Seller(S) 1

SELLER

Swire Pacific

Central, China
Category Company
Founded 1816
Sector Business Services
Employees78,000
Revenue 94.8B HKD (2023)
DESCRIPTION

Swire Pacific is an entity with diversified interests in five operating divisions: property, aviation, beverages, marine services and trading & industrial. Swire Pacific was founded in 1816 and is based in Central, China.

DEAL STATS #
Overall 4 of 4
Sector (Real Estate) 1 of 1
Type (Divestiture) 3 of 3
Country (Singapore) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-06 HUD Group

Tsing Yi Island, China

HUD Group is a provider of multi-disciplinary marine services and engineering solutions. Its 100,000-square-metre dockyard is well located geographically on Tsing Yi Island, in close proximity to Hong Kong’s two main import and export channels: Kwai Chung Container Terminals and Hong Kong International Airport. HUD Group was founded in 1972 and is based in Tsing Yi Island, Hong Kong.

Sell -
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Company

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