South African offshore supply vessel company OSC Marine has bought the marine service business and assets of Servest Marine, the offshore division of the larger South African multi-business sector company Servest, for an undisclosed sum.
Mike Jessop, co-founder and chief executive of OSC, said negotiations to buy Servest Marine, which operates a fleet of offshore crew and supply vessels and provides nearshore support sector, began over 18 months ago, with both companies having a long-standing history of partnerships on projects.
“We have experienced significant growth over the last five or six years and have been looking for an opportunity to expand our fleet as we pursue the local nearshore and subsea markets,” Jessop told Maritime Review Africa.
Part of the acquisition will include OSC taking on all of Servest Marine’s Cape Town and Durban-based shore and sea staff, increasing their own staff complement and adding nine vessels to its fleet of four offshore supply vessels.
Andrew Hendrikse, managing director at Servest Marine, said he believed that the two entities have significant synergies and a similar outlook.
“Being involved in the local market and being a responsible member of the South African maritime community has always been important to us as a business,” he said.
OSC currently operates in several African and South American countries, offering specialised offshore and subsea support, with ambitions to grow its international business.
The new vessels from Servest Marine will help sustain these ambitions, it said.
According to Hendrikse, the ex-Servest Marine vessels are suitable for these operations and have already operated in Ghana and Angola.
Pricing details for the acquisition were not revealed.
