Tidewater Inc. has signed a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. and Atlantic Offshore Services S.A. for approximately $500 million in an all-cash transaction, significantly strengthening its presence in Brazilian waters. The deal will increase Tidewater's Brazilian offshore vessel portfolio from 6 to 28 vessels, while expanding its global fleet to 231 units.
The acquired operations generated approximately $220 million in revenue during the trailing twelve months with a gross margin of 58%, demonstrating the strategic financial appeal of the combination. The transaction is expected to enhance both earnings per share and free cash flow metrics in 2026 and 2027, following typical integration timelines for offshore service acquisitions.
The acquisition represents Tidewater's continued focus on consolidating capacity in key offshore markets and positioning itself to capture growth opportunities in Brazil's energy sector. The company's all-cash structure for the transaction underscores its financial capacity and confidence in the strategic rationale of expanding its Brazilian footprint.