General – Merger
Helix Energy Solutions Group and Hornbeck Offshore Services announced they have entered into a definitive agreement to combine in an all-stock transaction, establishing a premier integrated offshore services company.
Upon closing of the transaction, Hornbeck shareholders will own approximately 55% and Helix shareholders will own approximately 45% of the combined company on a fully diluted basis.
The strategic combination will create a recognized leader in offshore operations through a diversified and expanded high-specification fleet of specialty vessels, supported by subsea robotics, well intervention, and technical service capabilities, including trenching subsea pipelines and cables.
The combined company will offer innovative and integrated subsea and marine transportation solutions to customers in deepwater energy, defence, and renewables.
By combining Helix’s well intervention assets and robotics with Hornbeck’s specialized and ultra-high specification offshore support vessels, they will create a complementary, end-to-end service that significantly enhances the company’s ability to serve a wider range of deepwater needs.
Together, Helix and Hornbeck will provide a diverse service portfolio covering the entire life cycle of deepwater fields, boosting macro resilience and increasing exposure to specialized non-oilfield markets.
