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$600 million (14.3X EBITDA) in part for access to environmental technol- ogy and equipment. A subsidiary of oil rig builder Keppel recently acquired a 49.9% stake in OWEC Tower, a pro- ducer of wind turbine foundations, for $11 million. In services, JF Lehman & Co acquired much of Seacor Hold- ings’ environmental and spill response business for $97 million in an all cash transaction. An additional environmen- tal-driven trend to watch for in coming years will likely be the consolidation of smaller vessel owner-operators with limited capital and management capac- ity to meet demands such as diesel emis- sions standards.

Outlook

Despite some positive signs early in 2012, projections of economic growth and even stability vary considerably.

European fi nancial troubles are far from settled, though most US economists are confi dent that the European sovereign debt crises can be contained. Slowly, maritime trade and investment are re- building across the world. Interesting shifts in capital fl ows and deal-making refl ect trends ranging from economic growth in developing countries to en- vironmental changes and the associated regulations. The McLean Group will continue to analyze and report on this narrow niche of maritime M&A activity as players across the world vie to sur- vive and grow into 2012.

The Author

Harry Ward leads the Transportation and Logistics practice at The McLean

Group, a middle market investment bank based in the Washington, DC area. He is a US Naval Academy graduate and has executive management experience in the maritime equipment industry.

Please contact Harry with questions or requests at [email protected] or 757-613-0476

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