Third Avenue Value Fund highlighted Tidewater Inc. in its first-quarter 2026 investor letter, noting that the offshore support vessel provider agreed to purchase Wilson Sons Ultratug, an owner of 22 mostly Brazilian-built platform supply vessels operating in Brazil. The all-cash transaction will give Tidewater a much larger presence in Brazil, making it one of the largest operators in one of the world's most attractive deepwater markets. The fund stated that this marks the third significant consolidating acquisition by Tidewater during its ownership, each enabled by financial flexibility unrivaled within the platform supply vessel industry. Tidewater shares closed at $64.67 on June 18, 2026, with a market capitalization of $3.22 billion.
Tidewater IncTidewater acquires Wilson Sons Ultratug, expanding Brazil presence, enabled by financial flexibility.
Wilson Sons Ultratug is acquired by Tidewater in an all-cash transaction.