Maersk Supply Service acquired by AP Moller Holdings

The acquisition by parent company AP Moller Holdings is the final piece of a jigsaw to find new ownership solutions for AP Moller-Maersk’s businesses that did not fit into a pure transport and logistics strategy mapped out in 2016. AP Moller-Maersk had originally intended to sell MSS but in a weak offshore vessels market it drew little interest.

AP Moller Holding said it aimed to establish MSS as a leading company servicing the offshore wind industry building on its capabilities and assets to service the offshore oil & gas business.

The transaction has an enterprise value of $685m.

“The capabilities and vessels Maersk Supply Service have built over more than 50 years supporting the oil and gas energy industry are much needed within offshore renewable energy, especially in the wind industry. As new owners we will drive a transition of Maersk Supply Service to over time become a leading offshore marine company servicing the offshore wind industry. At the same time, we are pleased that this concludes the separation of energy related activities from AP Moller – Maersk as initiated in 2016,” said Martin Larsen, CFO at AP Moller Holding.

The group holding company previously acquired the business of Maersk Tankers from AP Moller-Maersk, while Maersk Oil & Gas and Maersk Drilling were divested to third parties.

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“We are very pleased to see Maersk Supply Service will be able to continue to further develop new solutions for the green transition of the offshore sector under a new long-term ownership. This transaction validates the excellent work done by the team in the last years. At the same time, it marks the completion of our initial decision to divest all energy related activities and focus on truly integrated logistics”, says Patrick Jany, CFO of AP Moller - Maersk.

MSS will continue trading under its current name and will be using the Maersk seven-pointed star logo as part of its brand.