Shipping firm Hartmann Group has secured the recapitalisation of an 11-strong fleet of anchor handling tug supply (AHTS) vessels.
The deal was concluded through a partnership with, and long-term investment from, Breakwater Capital and Hayfin Capital Management.
Although the financial terms of the agreement were not unveiled, the company said that the delivery of the 11 vessels is scheduled to be completed by the end of November.
Agreed on October 12, the deal provides the fleet with immediate stability and the potential for growth, Hartmann informed.
With this move, full ship management of the fleet will remain with the former owners, Hartmann Group, with Hartmann Offshore continuing the technical-nautical operations and UOS (United Offshore Support) managing the commercial side.
Hartmann informed that the fleet will operate under their current expedition names with the prefix changed from UOS to GH.
“We’re delighted to have agreed this investment which secures a clean balance sheet and the long-term capital required to provide stability and the potential for growth in the future,” Andre Groeneveld, Managing Director of UOS, said.
“With strong assets, long-term partners and experienced management, we feel well-positioned to deliver a reliable, competitive and technically advanced service to the market,” he added.