Strategic acquisition boosts fleet and services for marine services company
OSC Marine acquires Servest Marine (a division of Servest)
SOUTH AFRICA: Cape Town-based OSC Marine Africa has acquired the vessels and services of Servest Marine (a division of Servest) in a strategic acquisition that will increase their staff complement and significantly swell their local fleet as the company seeks to capitalise on international growth initiatives.
According to Mike Jessop, cofounder and CEO of OSC, negotiations to buy Servest Marine, which operates a fleet of OPL vessels and is involved in the nearshore support sector, began more than 18 months ago. Eager to share the benefits of the development with their clients, the OSC website featured the additional assets as soon as the deal became final on the 1 October.
“We have experienced significant growth over the last five or six years and have been looking for an opportunity to expand our fleet as we pursue the local nearshore and subsea markets,” says Jessop, adding that the two companies have a long-standing relationship having worked on projects together.
Former Managing Executive at Servest Marine, Andrew Hendrikse is excited by the latest development and believes that the two entities have significant synergies and a similar outlook. “Being involved in the local market and being a responsible member of the South African maritime community has always been important to us as a business,” he says.
OSC will take on all of Servest’s Marine shore and sea staff in Cape Town and Durban increasing their own staff complement and adding nine vessels to their fleet. According to Hendrikse, who broke the news to the Servest Marine staff, the development has been well-received, and the team is looking forward to working within a completely maritime-focused operation.
Noting some of the challenges currently facing the Off Port Limit (OPL) sector, Jessop says that they are no stranger to working with government and authorities in formulating regulations with a focus on compliance. “We were involved in the development of the new commercial diving regulations in 2022 which came into effect last year,” he says emphasising their support for improved auditing and compliance.
Jessop also sees the potential to develop new bespoke vessels for the OPL market. As an engineering company, OSC already designs and builds their own vessel-based technology and hull cleaning equipment. “There is an opportunity to change the face of OPL and concentrate on technologies and operations,” he says.
With goals to grow their international presence, OSC is already operating in several African and South American countries where they offer specialised offshore and subsea support. The new vessels will help sustain these ambitions.
Hendrikse says that the ex-Servest Marine vessels are suitable for these operations and have already operated in Ghana as well as in Angola where they are currently supporting one of the biggest maritime construction projects in Africa.
As a company with deep roots in the maritime industry, that has coupled acquisitions with the development of innovative maritime technology, Jessop believes that this strategy will help OSC develop a world-class brand of products, personnel and services that meet international maritime and offshore requirements.
PHOTO: Mike Jessop and Andrew Hendrikse speak about the recent acquisition of Servest Marine (a division of Servest) by OSC Marine Africa.
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