SEACOR Marine Completes Sale of Windcat Workboats to CMB

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SEACOR Marine Holdings Inc., a global provider of marine and support transportation services to offshore wind farm facilities, has completed the previously announced sale of Windcat Workboats Holdings Ltd. and its crew transfer vessel business to Compagnie Maritime Belge (CMB), a diversified shipping and logistics group. 

As consideration for the sale, CMB paid SEACOR Marine £32.8 million in cash and assumed all of the approximately £20.4 million of debt outstanding under Windcat’s existing revolving credit facility. After deducting transaction costs and expenses and giving effect to foreign exchange rate hedges, the company received net cash proceeds of approximately $42.6 million.   

Pro forma financial information of the company giving effect to the closing will be filed by the company with the Securities and Exchange Commission.

SEACOR Marine and its joint ventures operate a diverse fleet of offshore support and specialty vessels that deliver cargo and personnel to offshore installations; handle anchors and mooring equipment required to tether rigs to the seabed; tow rigs and assist in placing them on location and moving them between regions; provide construction, well workover and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance and repair.

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