Tidewater Expands Global Footprint with Wilson Sons Acquisition

In a move to expand its global presence, U.S. offshore vessel operator Tidewater Inc. has announced the acquisition of Brazil's Wilson Sons, a leading provider of offshore support vessels and port terminal operations. According to the announcement, the $562 million deal will see Tidewater's global fleet grow to 231 vessels, solidifying its position as one of the largest offshore support vessel operators worldwide. The acquisition includes Wilson Sons' fleet of 83 vessels, as well as its interests in port terminal operations in Brazil. 'This transformative acquisition represents a unique opportunity to significantly expand Tidewater's global footprint and service capabilities,' said Quintin Kneen, Tidewater's President and CEO. 'The combination of Tidewater and Wilson Sons creates an industry leader with enhanced scale, diversification and financial strength to better serve our customers around the world.' The move comes as the offshore energy sector continues to rebound from the pandemic-driven downturn, with increased activity driving demand for support vessels. By integrating Wilson Sons' assets and operations, Tidewater aims to capitalize on growing opportunities in Brazil and other key global markets. 'Wilson Sons has an excellent reputation and track record in the Brazilian offshore market, which is a strategically important region for Tidewater,' Kneen added. 'We look forward to welcoming the Wilson Sons team and working together to drive operational excellence and create value for all of our stakeholders.' The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and other customary closing conditions.