Australian-based shipbuilding group Austal said it has entered into an agreement to acquire compatriot ship repair and support business BSE Maritime Solutions Group. BSE Maritime Solutions, which operates in Cairns and Brisbane, serves defense, commercial, tourism and luxury vessel customers, including Australian Border Force, BAE Systems, Thales and Svitzer.
The deal, which comes at an enterprise value of A$27.5 million (US$19.6 million), aligns with Austal’s strategy to continue building the its key support business, the company said, noting that revenue from its support segment has grown at an annual rate of 28% over the past four years to reach $360 million (US$256.4 million) in the 2020 financial year, providing reliable ongoing revenue in addition to shipbuilding operations....MORE
