General – Acquisition
On 22 February 2026, Tidewater acquired Wilson Sons Ultratug and Atlantic Offshore Services in an all-cash deal valued at approximately $500 million, including the assumption of roughly $261 million in debt.
Quintin Kneen, Tidewater’s President and Chief Executive Officer, commented: “The agreement to acquire Wilson Sons UltraTug Offshore (WSUT) marks yet another important milestone in the continued evolution of Tidewater. The Brazilian offshore vessel market is one of the largest and most compelling in the world and the addition of WSUT to the Tidewater fleet will enhance our presence in the country. WSUT has an excellent reputation as both a shipowner and ship operator, with a fleet that is among the most impressive worldwide today.”
The acquisition adds 22 platform supply vessels (PSVs), increasing Tidewater’s global vessel fleet to 213 vessels. In Brazil, the Tidewater fleet will expand from 6 to 28 vessels, significantly strengthening its presence in one of the world’s key offshore markets.
