Bourbon gets new majority shareholders, fresh injection of capital

Global investment firms Davidson Kempner Capital Management (DKCM) and Fortress Investment are the new majority shareholders in Bourbon, following approval of a financial restructuring plan by a French court.

As a result of the transaction, approved by the Marseille Economic Affairs Court 17 July 2025, a significant portion of the offshore vessel owner’s debt was converted into equity. Additionally, the deal sees a fresh injection of capital into Bourbon, allowing the flexibility to invest in its fleet, reactivate laid-up OSVs, undertake life-extension work and renewal of its crewboat fleet. Bourbon has one of the world’s largest fleets of OSVs, with some 223 vessels and about 5,850 employees.

Bourbon’s three-division model, with stand-alone units, will be replaced with a simplified, unified single brand, with streamlined management.

Leading the company on an interim basis will be company veteran Gäel Bodénès, who was appointed chief executive during a general assembly meeting on 19 December. Mr Bodénès will lead Bourbon through the transformation phase until mid-2026, “within a structured and well-managed transition framework until his departure from the group,” said the company.

Bourbon’s board will be chaired by offshore oil and gas services veteran Bruno Chabas, formerly chief executive of SBM Offshore. Both DKCM and Fortress will have two board members. Representing DKCM are company vice president, Johann Malaper, and managing director, Carlos Baigorri. Fortress board members will be the firm’s managing director and head of corporate credit, Niccolò Biancheri and director, Dimitris Yannopoulos. Other board members are Triton investment advisory professional, Fady Chammas, and Lukalari SAS president, Jean-Baptiste de Boissieu.