DOF completes US$1.1Bn acquisition of Maersk Supply Service

DOF Group completed its acquisition of Maersk Supply Service on 1 November from Maersk Supply Service Holding. The cash-and-stock transaction was valued at US$1.1Bn

The acquisition does not include Maersk Supply Service’s offshore wind business nor its operations in Brazil. These operations will remain as independent companies under AP Moller Holding, Maersk Offshore Wind and Maersk Supply Service Brazil, respectively.

Following the completion of the acquisition, the DOF Group’s workforce will grow to more than 5,000 and the Oslo-listed owner’s controlled fleet will expand to 78 offshore support vessels (OSVs). Of these, 65 vessels are owned, and include 33 CSVs, 25 anchor handling tug supply vessels (AHTS), six platform supply vessels and one cable-layer. The vessels will be rebranded under DOF. But DOF says its core businesses will remain unchanged after the acquisition; it will offer vessels and integrated offshore services for both oil and gas and offshore wind sectors.

In Maersk Supply Service, DOF acquires a relatively young fleet with an average age of 8.5 years. As a result, the average age of DOF’s combined subsea and AHTS vessel fleet will drop from 11.7 years to 10.7 years.