Norwegian offshore supply vessel company DOF Group has confirmed its agreement to acquire Denmark-based Maersk Supply Service (MSS) in a significant US$1.11 billion cash and stock transaction, announced on Tuesday.
The merger will consolidate under the DOF Group banner, creating a powerhouse in offshore services with global reach and extensive capabilities across the offshore energy sectors. DOF Group’s fleet will expand to 78 modern offshore and subsea vessels, including 65 owned vessels, supplemented by MSS’s 22 vessels. MSS’s fleet includes eight high-specification construction supply vessels, 13 high-specification anchor handling tug supply vessels, and one cable layer vessel.
Upon completion, the combined entity will rank among the largest oil services companies listed on the Oslo Stock Exchange, boasting a collective market capitalization of around US$2.3 billion.
Mons Aase, Chief Executive Officer (CEO) of DOF Group, highlighted the strategic significance of the acquisition: “The announced transaction today marks a strategic milestone for the DOF Group, driven by a strong industry rationale and a shared vision with A.P. Moller Holding, who will indirectly become a major shareholder.”
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Christian Ingerslev, CEO of Maersk Supply Service, emphasized the benefits of the merger for both companies: “This long-term solution for Maersk Supply Service’s OSV activities together with DOF Group is founded on our shared values and unwavering commitment to safety and efficiency of our operations.”
The transaction excludes MSS’s offshore wind installation business and operations in Brazil, which have been carved out before closing. The acquisition is expected to enhance customer service through increased scale and global presence, leveraging the combined expertise and resources of DOF and Maersk Supply Service.
The deal is subject to regulatory approvals and customary closing conditions.
