Singapore-based Navig8 to Acquire African-Focused OSV Provider RKOffshore
Singapore-headquartered Navig8 Group, the world's largest provider of maritime services, announced Tuesday that it has entered into agreements to acquire Africa-focused RKOffshore Management (RKOM), a fully-integrated provider of marine services to the offshore energy industry. Completion of the acquisitions is subject to a number of conditions precedent which are expected to be satisfied on or before April 30. Under these agreements, RKOM will become a wholly-owned subsidiary of Navig8 Offshore, a newly-formed division of Navig8 Group, and rebranded as "RK8".
RK8 will provide integrated QHSSE-compliant commercial and technical management services to platform supply vessels and anchor handling tug supply vessels serving the offshore oil and gas sector.
"We believe current dynamics within the energy exploration and production industry have created a unique opportunity for Navig8 to extend its commercial and technical services to the offshore energy sector while at the same time expand our geographical footprint to West Africa," said Nicolas Busch, Chief Executive Officer of Navig8 Group. "We are pleased to have found strong partners in the RKOM team with an established platform unique within the sector. Leading technical and commercial management is critical in the offshore services industry. Charterers demand exemplary knowledge and local presence as well as an integrated service from their suppliers, which together with RKOM we will provide."
Robert Knutzen, the executive director of RKOffshore Management added "We are delighted to have found a respected partner in Navig8 Group with deep relationships with a number of the leading participants in the energy sector. Existing RKOM clients will immediately benefit from our significant combined commercial scale and global presence, as well as Navig8's industry leading maritime services platform. With Navig8 Group, we seek to be the premier commercial and technical marine services provider to the offshore industry."
About RK Offshore
Founded in 2006 by Knutzen, RKOM is a full service commercial and technical manager with a proven track record in the shallow to mid-water offshore oil and gas sector and the ability to deliver superior service across every phase of offshore exploration, development and production. RKOM has 19 offshore service vessels under its commercial or technical management and operates two commercial pools. RKOM's commercial and technical activities are currently distributed geographically in Africa, the Middle East and the Asian Pacific.
About Navig8 Group
The Navig8 Group is a fully integrated provider of maritime services, and the world's largest independent pool and commercial management company. Following this transaction, Navig8 will operate 19 vessel pools spanning 5 industry segments and manage over 300 vessels (including commitments) on behalf of a diverse pool member base comprising 45 shipowners from 18 countries.
Navig8 has built, and maintains, a vast network of charterer relationships, driven by proximity to customers and regional markets through a global network of 13 offices, employing over 350 staff. Its established track record of high-quality service provision is founded on a deep knowledge of global commodity flows, which is derived both through information gained from the managed fleet and a highly-regarded in-house research team.
In addition to its core commercial management platform, Navig8 provides technical management, newbuilding construction supervision, bunker trading and brokerage, corporate administration and asset management services.
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