Austal Acquires BSE Maritime Solutions
Global ship building company Austal has announced that it has reached an agreement for the acquisition of Australian shipyard BSE Maritime Solutions. BSE Maritime Solutions is a leading repair and maintenance company with sites in Cairns and Brisbane, and an ever-growing superyacht clientele.
A former superyacht builder, Austal delivered superyachts such as 72m Serenity and many under the Oceanfast brand, including 69.49m Nomad. The move to acquire BSE Maritime Solutions will expand the Austal’s key support business, with the acquisition made at an enterprise value of A$27.5million.
For the superyacht industry, BSE offers world-class refit and maintenance infrastructure adjacent to the busy homeport of Cairns, a gateway to the Great Barrier Reef and South Pacific islands.
Earlier in 2020, BSE lifted the largest charter vessel in Australia in the form of 54m Baglietto superyacht Mischief. The facilities include the largest Travel Lift in the Pacific capable of lifting up to 1,120 tonnes, as well as a wealth of in-house expertise.
Commenting on the acquisition, Austal Chief Executive Officer David Singleton said “BSE Maritime Solutions is a quality business and its acquisition aligns with our stated strategy of growing our support division, adding further scale to our operations on the east coast of Australia in addition to our existing support services at Henderson, Cairns, and Darwin.”
The decision to acquire BSE may well have been made with great attention made to the development plans and vision of the Cairns shipyard. BSE has plans for a A$90million infrastructure investment which will include a 5000 tonne Syncrolift, providing all-encompassing facilities to service the some of the world's largest superyachts in the Great Barrier Reef region.
"BSE Maritime Solutions is a quality business and its acquisition aligns with our stated strategy of growing our support division"