This marks SHUAA managed fund’s second investment following the acquisition of Stanford Marine Group
SHUAA recently announced the funding of its leveraged buyout (LBO) financing facility for the acquisition of Allianz Marine and Logistics Services Holding Limited (Allianz) by its managed fund after securing a US$ 160mn seven-year acquisition finance facility from National Bank of Fujairah (NBF) and Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral financial institution.
A leading maritime logistics player, Allianz operates the largest fleet of approximately 117 owned and chartered OSVs in the Middle East, including a combination of Platform Supply Vessels (PSV), Anchor Handling Tug Supply vessels (AHTS), crew boats, accommodation barges, and flat barges.
The company also provides full suite of maritime services such as vessel chartering, port logistics, and crew services to clients including leading international and national oil companies and offshore construction contractors.
With the Allianz acquisition, SHUAA’s managed fund now includes the largest portfolio of 152 offshore supply vessels in the region and the fourth largest OSV fleet in the world. SHUAA expects the combination of two of the region’s leading OSV operators to deliver significant revenue and cost synergies and economies of scale on an annual basis.
“We look forward to working with all stakeholders to further develop SMG and Allianz businesses and contribute to the long-term growth of the offshore oil & gas industry in the region,” stated Jassim Alseddiqi, Group Chief Executive Officer, SHUAA Capital.