Herman Senior acquires ST Marine Support

Description

Herman Senior has raised suitable external financing and is acquiring the shipping company ST Marine Support.

This acquisition supports Herman Senior in its (international) growth strategy and directly results in the acquisition of ST Marine Support. With this acquisition Herman Senior strengthens its market position in the dredging and offshore market.

BDO M&A (both Debt Advisory and Transaction Advisory Services) and BDO Legal assisted the shareholders throughout the share transfer process, doing a financial due diligence on ST Marine Support as well as raising suitable external financing.

About Herman Senior

Herman Senior was founded in 1992 and is based in Zwijndrecht. The Company provides maritime solutions nationally and internationally through the use of versatile vessels such as multicats and shoalbusters. The fleet consists of eight vessels before the acquisition (eleven vessels after the acquisition). These vessels in combination with experienced employees ensure the completion of diverse (international) projects in a high-quality manner. Typical activities for Herman Senior are dredging, wind farm construction as well as cable laying.

About ST Marine Support

ST Marine Support began dredging and offshore operations in 2007 and is based in Harlingen. Before the acquisition, the fleet consisted of three multicats. The projects ST Marine Support deploys the vessels on are similar to Herman Senior's projects. Namely, moving and handling anchors, towing, handling floating pipelines, plowing work (soil preparation) and work in renewable energy such as maintaining wind farms.