“The ownership in Secunda will give Siem Offshore a strategic position in Canada's east coast offshore sector,” Siem Offshore said.
“The aim is to grow the business of Secunda and also to develop Siem Offshore's current business through the position represented by Secunda,” it added.
Siem Offshore and Birch Hill have agreed that each party will have an equal board representation in Secunda.
Birch Hill, which will own 50% in Secunda following the deal, established the offshore vessel firm in March 2012. Secunda currently owns and operates a fleet of six offshore support vessels on Canada's east coast.
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