Information on the target
BOURBON has successfully completed its financial and capital restructuring, welcoming new shareholders, including funds managed by affiliates of Davidson Kempner Capital Management LP and Fortress Investment Group. This strategic partnership positions them as the majority shareholders of the Company, with a shared objective to enhance profitability, capture market growth, and reposition BOURBON as a leading offshore energy services provider. The transaction, sanctioned by the Marseille Economic Affairs Court on July 17, 2025, marks the culmination of a comprehensive transformation plan initiated a year prior, heralding a new phase of development for BOURBON.
The restructuring involved converting a significant portion of the company's debt into equity, alongside an injection of new capital. As a result, BOURBON now enjoys a robust financial structure, characterized by a leverage ratio below 1.5x EBITDA, aligning with the highest industry standards. This strengthened position allows the Group to invest in its fleet, including the reactivation of offshore support vessels (OSVs), life-extension programs, and the renewal of its crewboat fleet, thereby supporting its growth strategy in a burgeoning offshore energy market.
Industry overview in the target’s specific country
The offshore marine services industry is experiencing a dynamic transformation, driven by the global energy sector's structural momentum. This sector is witnessing increased demand, fueled by the ongoing energy transition and the need for sustainable energy solutions. BOURBON's strategic positioning in this market is bolstered by its long-standing relationships with major energy players, ensuring a loyal customer base that is critical for sustained growth.
Regions such as West Africa, Guyana–Suriname, the Middle East, and Asia are emerging as strategic hotspots for offshore energy activities. These areas are characterized by significant investments in energy infrastructure and a growing demand for marine services, creating a favorable environment for companies like BOURBON. The Group's established presence in these regions positions it well to capitalize on the anticipated growth in offshore energy projects.
Furthermore, the industry's shift towards more sustainable practices presents additional opportunities for BOURBON. As energy companies increasingly focus on reducing their carbon footprint, the demand for innovative and efficient offshore services is expected to rise. BOURBON's commitment to enhancing its fleet and operational capabilities aligns with this trend, positioning the Group as a preferred partner for energy companies navigating the complexities of the energy transition.
The rationale behind the deal The rationale for this strategic deal lies in the alignment of interests between BOURBON and its new shareholders, Davidson Kempner and Fortress. Their investment is aimed at improving the Group's profitability and market positioning, ensurin…