Scandinavia’s Rederi AB TransAtlantic said today it expected to grow its Aberdeen-based subsidiary SBS Marine after buying the supply vessel operator in a £28.8million deal.
Sweden-based TransAtlantic has taken over SBS through its TransViking Offshore business and now plans to invest more money in the company.
SBS, which was previously owned by TransAtlantic’s parent, Kistefos, and the rest of TransViking Offshore group are now operating as Viking Supply Ships.
The Aberdeen business has annual turnover of around £21million and employs more than 140 people. It operates four vessels in the North Sea and two offshore India.
Nigel Taylor, managing director of SBS, has stayed on in the same role with Viking Supply Ships.
Mr Taylor said: “While it is business as usual under the new identity, the acquisition and name change highlight that we are an integral part of a proactive, international group which is committed to growth, including expansion of Aberdeen-based operations.”
TransAtlantic said it was currently conducting a £51million share rights issue to finance the acquisition and the restructuring of its offshore/icebreaking and industrial shipping interests, which will be run as separate divisions from May.
The group said the SBS takeover was part of its plans to focus on the offshore/icebreaking business and attract new clients.
SBS was established in 2000 and its former sister company, SBS Logistics, broke away through a management buyout two years later.