In mid-October, Harvey Gulf International Marine finalized the $460 million purchase of Golden Meadow, La.-based Abdon Callais Offshore’s assets and business, including 48 offshore supply vessels.
Four of the OSVs are currently under construction at Master Boat Builders, Bayou La Batre, Ala. Of the 48 OSVs, 92 percent are dynamically positioned (DP-1 or DP-2) and 58 percent of the OSVs are 205′ and longer.
Harvey Gulf then sold six of the 205′, DP-1 OSVs to Raceland, La.-based Adriatic Marine for $72 million.
“It’s been a very busy year,” Harvey Gulf CEO Shane Guidry said in a statement announcing that the deal had closed. “Abdon Callais is the third company I have purchased in the last 12 months, adding 58 vessels to my fleet.”
Master Boat and Abdon Callais have a long history together. The shipyard built more than 50 vessels for the offshore operator. Andre Dubroc, Master Boat’s general manager, said he hopes to continue building for Harvey Gulf the way he had for Abdon Callais.
“I feel confident we can get a contract from them once this contract is completed,” he said. “The industry is really going strong. I’m getting calls almost every other day from people looking for information about building boats.”
Calls to ACO’s headquarters in Golden Meadow, La., were not returned. Although financially sound, ACO has struggled to find someone in the Callais family to lead the company with the same sort of passion that the late Peter Callais had. He died in November 2008. The company’s fleet had been on the market previously but was pulled off the market amid reports that a family member wanted a chance to take the reins.
Mayer Brown LLP served as legal advisor to Harvey Gulf in connection with the transaction. Raymond James & Associates Inc. served as financial advisor, and Baldwin Haspel Burke and Mayer LLC served as legal advisor to ACO.