UAE’s Shuaa completes leveraged buyout of Allianz Marine

 UAE’s Shuaa completes leveraged buyout of Allianz Marine

Shuaa Capital, a UAE-based asset management and investment banking firm, has completed the leveraged buyout of Allianz Marine and Logistics Services using a $160-million financing facility.

Shuaa secured the seven-year acquisition facility from the National Bank of Fujairah (NBF) and Arab Petroleum Investments Corporate (APICORP), an energy-focused multilateral financial institution.

The terms of the financing deal include a seven-year interest rate swap with NBF to hedge rate exposure, Shuaa said in a filing on the Dubai Financial Market.

This is the second acquisition of an offshore support vessels firm by a Shuaa-managed fund since it bought Stanford Marine Group in 2020.

Allianz operates 117 chartered and owned offshore support vessels in the Middle East. These include platform supply vessels, anchor handling tug supply vessels, crew boats, accommodation barges, and flat barges.

Allianz also provides vessel chartering, port logistics, and crew services to international and national oil companies and offshore construction contractors.

Shuaa said that, with the Allianz acquisition, its managed fund now includes the largest portfolio of 152 offshore supply vessels in the region and the fourth largest OSV fleet in the world.

The firm said it 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.

Nicolas Thevenot, managing director of corporate banking at APICORP, said Allianz’s high-quality asset base and the critical support it provides to the OSV sector in expanding offshore exploration and production activities in the region was a high-value addition to their growing portfolio of impact-driven investments.

Aman Malik

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