Dubai–Mubasher: Shuaa Capital has acquired Allianz Marine & Logistics Services Holding (Allianz), a UAE-based maritime logistics company owning and renting 117 offshore support vessels (OSV), by its managed funds.
The fleet includes platform supply vessels (PSV), anchor handling tug supply vessels (AHTS), in addition to crew boats, accommodation barges, and flat barges, according to a press release.
The transaction, which is one of the largest deals in the Middle East’s maritime sector, is Shuaa’s second strategic investment in the OSV sector following its acquisition of Stanford Marine Group (SMG) in 2020.
This acquisition has strengthened Shuaa’s portfolio with 152 offshore supply vessels in the region, becoming the fourth largest OSV fleet in the world.
The Managing Director and Head of Public and Private Markets at SHUAA Capital, Ajit Joshi, said: “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.”
Meanwhile, the Chairman of SMG, Saeed Al Hajeri, commented: “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."
