Tidewater spends $500M to grab 22-vessel foothold in Brazil

Tidewater Inc. announced an all-cash acquisition of Wilson Sons Ultratug Participações S.A. (WSUT) and Atlantic Offshore Services S.A. for an enterprise value of approximately $500 million, including assumed debt. This acquisition will add 22 platform supply vessels (PSVs) to Tidewater’s fleet, significantly enhancing its presence in Brazil and establishing it as a major provider of Brazilian-built OSVs. The transaction is expected to be immediately accretive to earnings and free cash flow and provides substantial backlog coverage.

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