Carnegie Investment Bank Norway is proud to have acted as financial advisor to Shearwater GeoServices in two transactions to take over marine seismic acquisition assets previously owned by Polarcus, from Tiger Moth AS, a company affiliated with Woodstreet Inc.
Shearwater acquired streamers and related equipment for a total cash consideration of USD 50 million. The company further purchased six seismic acquisition vessels for a total consideration of USD 127.5 million. The transactions are financed through a new vessel loan facility provided by DNB and GIEK of USD 107.5 million and a convertible loan from RASMUSSENGRUPPEN AS in the amount of USD 85 million. USD 15 million of the convertible loan is available for general corporate purposes.
Shearwater is a global, customer-focused and technology-driven provider of marine geophysical services with the world’s largest fleet of high-end seismic vessels.
Carnegie congratulate Irene Waage Basili, Andreas Hveding Aubert, Jonas Gade Christensen, Ph.D and the rest of the Shearwater team with the successful transaction and look forward to continuing our support of Shearwater going forward.