SHUAA Capital, the UAE-based leading asset management and investment banking platform has acquired Allianz Marine and Logistics Services Holding.
This is one of the largest Mergers and acquisitions (M&A) deals in the maritime offshore sector in the Middle East in recent years and one of the largest in the offshore space globally.
Based in Abu Dhabi, Allianz is a leading maritime logistics player with the largest fleet of approximately 117 owned and chartered offshore support vessels (OSV) in the Middle East. The fleet comprises a combination of Platform Supply Vessels (PSV), Anchor Handling Tug Supply vessels (AHTS), crew boats, accommodation barges, and flat barges, among others.
The company offers a full suite of maritime services including vessel chartering, port logistics, and crew services to clients including leading international and national oil companies and offshore construction contractors.
Allianz is SHUAA’s second strategic investment in the OSV sector following its acquisition of Stanford Marine Group (SMG), a Dubai-based OSV operator. Following the Allianz transaction, SHUAA now manages the largest portfolio of 152 offshore supply vessels in the region and the fourth largest OSV fleet in the world.
Ajit Joshi MD & Head Public & Private Markets SHUAA Capital
“We are excited by the acquisition of Allianz. We first invested in the sector less than two years ago when we began working on the turnaround of SMG and now have the market-leading position in OSVs in the region. Allianz‘s complimentary fleet and the high-quality team were always a natural fit for us and, as we consolidate our position, we will continue to look for ways to derive additional synergies. SHUAA strongly believes that the offshore industry will continue to grow, and by creating a leading player in a strategically important segment of the region’s offshore petroleum industry, we are well-positioned to capitalize on this trend.”
Given its market-leading position, fleet quality and strong ties to national and global oil majors, the combined platform of SMG and Allianz is well-positioned to take advantage of the growth expected in the offshore oil & gas sector. SHUAA expects considerable revenue and cost synergies on an annual basis, as well as economies of scale, from the merger of two of the region’s major OSV operators.
Mr. Saeed Al Hajeri, Chairman of SMG said that “We congratulate SHUAA on their investment in Allianz and are excited to work together with our colleagues in Allianz. I look forward to the opportunity to build a stronger, consolidated OSV business and contribute to the vital oil & gas industry that is central to the economies of our region.”
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