Tidewater has completed its $500 million acquisition of Wilson, Sons Ultratug Participações and affiliate Atlantic Offshore Services, collectively known as WSUT, adding 22 platform supply vessels and significantly expanding its presence in Brazil. The deal closed on August 31, with Tidewater paying approximately $283.1 million in cash and assuming roughly $229.3 million of existing debt, subject to post-closing adjustments. The acquisition boosts Tidewater's Brazilian fleet from six to 28 vessels and increases its global offshore support vessel fleet to 213, with a total fleet of 231 vessels. CEO Quintin Kneen said the acquired vessels complement the existing fleet and provide additional scale in Brazil, a key offshore market. The transaction, first announced in February, received all required regulatory approvals, including from Brazil's antitrust authority, and comes amid strong offshore activity and day rates, with Tidewater reporting an average day rate of $22,938 in the second quarter of 2026.
Tidewater IncTidewater completed its $500M acquisition of WSUT, adding 22 vessels and expanding its Brazilian fleet from six to 28 vessels.
