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SEACOR Holdings

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SEACOR Holdings
Company typePrivately held company
IndustryPetroleum industry
Founded1989; 35 years ago (1989)
FounderCharles Fabrikant
Headquarters
Fort Lauderdale, Florida
,
United States
OwnerAmerican Industrial Partners
Websitewww.seacorholdings.com

SEACOR Holdings, based in Fort Lauderdale, Florida, provides equipment and services to the offshore petroleum industry and the marine transportation industry.[1] An American corporation, the company holds a 70% ownership stake in a bioethanol plant located in Illinois.[2]

SEACOR is a longstanding family enterprise encompassing a broad spectrum of maritime activities within North America. Its portfolio spans sectors including Jones Act shipping, U.S. and international towing, inland tug and barge operations, military logistics, disaster response, Caribbean breakbulk services, and additional ventures facilitated through joint venture partnerships. Additionally, SEACOR has entered and exited sectors such as offshore drilling, OSV (Offshore Support Vessel) operations, helicopter services, spill response, and other related domains.[3][4]

Within its Offshore Marine Services division, Seacor provides towing and support services, including anchor handling tugs, on a global scale, primarily serving the oil industry. Its subsidiary, SCF Marine, operates in inland shipping within the United States, as well as along the Río Paraná and Río Magdalena in South America. In the Gulf of Mexico and the Caribbean, Seacor Ocean Transport conducts its operations.

Seacor Holdings collaborates with the railroad company Genesee and Wyoming in a 50:50 joint venture, operating the CG Railway. Since the year 2000, this railway has facilitated rail ferry services from Mobile, Alabama, to Coatzacoalcos, Mexico.[5][6]

History

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SEACOR was founded on 7 November 1989 by Charles Fabrikant.[7] In December of the same year, Fabrikant and a consortium of investors acquired NICOR Marine, the marine unit of Nicor Gas,[8] and subsequently rebranded it as SEACOR.

In 1992, the company presented its initial public offering, entering the New York Stock Exchange under the symbol CKOR. During the 1990s, Seacor participated in Chile's initiative to construct and operate offshore drilling platforms.

In 2002, Tex-Air, a provider of helicopter services for supplying oil and gas offshore platforms, was purchased. This was followed by the expansion of helicopter operations in 2004 through the acquisition of Era Aviation.[9][10] In 2005, Seacor acquired Seabulk International Inc.,[11] which enabled the company to engage in the transportation of crude oil, including offshore and port towing services.

In March 2012, the company sold National Response Corporation and its affiliated businesses to J.F. Lehman & Company.[12]

In January 2013, the company sold its energy trading division to Par Pacific Holdings.[13] Also in 2013, the helicopter business was spun off as Era Group.

In 2017, the company acquired International Shipholding Corporation, including Waterman Steamship Corporation.[14]

In 2018, the company acquired full ownership of CLEANCOR Energy Solutions LLC,[15] while the company divested its stake in the aviation company Hawker Pacific.

In April 2021, American Industrial Partners, a private equity firm, acquired the company at a value of US$1 billion.[16][17][3][18]

Mergers & Acquisitions

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Target Company Year of Purchase Purchase Value Type Ref
NICOR Marine 1989 Acquisition
John E Graham & Sons 1995 US$73 Million Acquisition [19]
Smit Intl-Offshore Supply Ship 1996 US$182 Million Acquisition [19]
ERST/O’Brien's 1997 Acquisition [10]
Tex-Air 2002 Acquisition [10]
Era Aviation 2004 Acquisition [9]
Seabulk International Inc. 2005 Merger [20][11]
International Shipholding Corp 2017 Acquisition [21][22]
Jones Act Shipping Company 2021

See also

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References

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  1. ^ "About Us: SEACOR Holdings Inc". seacorholdings.com. Retrieved 2024-05-16.
  2. ^ "Illinois Corn Processing". www.seacorholdings.com. Archived from the original on 2018-02-12. Retrieved 2024-05-16.
  3. ^ a b "SEACOR Holdings Goes Private After 28 Years on the Big Board". The Maritime Executive. 2020-12-07. Retrieved 2024-05-16.
  4. ^ Resources, United States Congress House Committee on Natural (2010). Outer Continental Shelf Oil and Gas Strategy and Implications of the Deepwater Horizon Rig Explosion: Parts 1 and 2 : Oversight Hearing Before the Committee on Natural Resources, U.S. House of Representatives, One Hundred Eleventh Congress, Second Session, Wednesday and Thursday, May 26 and 27, 2010. U.S. Government Printing Office. p. 233. ISBN 978-0-16-086610-4.
  5. ^ Biscan, Todd (2021-03-11). "CG Railway Launches New Rail Ferry". Genesee & Wyoming Rail. Retrieved 2024-05-16.
  6. ^ Blenkey, Nick (2021-09-28). "New rail ferry completes first U.S.-Mexico round trip". Marine Log. Retrieved 2024-05-16.
  7. ^ McAuley, Tony (April 16, 2021). "Seacor Power's owner among offshore service firms struggling with low oil prices, pandemic". The Houma Courier.
  8. ^ Arndt, Michael (January 28, 1990). "ABRUPT RESIGNATION BY NICOR PRESIDENT". Chicago Tribune.
  9. ^ a b "Rowan to sell ERA subsidiary to SEACOR". American City Business Journals. October 11, 2004.
  10. ^ a b c "Our History :: SEACOR Holdings Inc". seacorholdings.com. Retrieved 2024-05-16.
  11. ^ a b "Purchase: Seabulk to become part of Seacor". American City Business Journals. March 14, 2005.
  12. ^ "J.F. Lehman & Company Completes the Acquisition of National Response Corporation from SEACOR Holdings Inc" (Press release). PR Newswire. March 19, 2012.
  13. ^ "SEACOR Exits Crude Oil Trading With Sale of SEACOR Energy Inc. to Par Petroleum Corporation" (Press release). GlobeNewswire. January 2, 2013.
  14. ^ "International Shipholding emerges from bankruptcy as part of". The Times-Picayune/The New Orleans Advocate. June 2, 2017.
  15. ^ "SEACOR Holdings Inc. Announces Purchase of Remaining Interest in CLEANCOR Energy Solutions LLC" (Press release). GlobeNewswire. May 31, 2018.
  16. ^ "SEACOR HOLDINGS INC. ANNOUNCES COMPLETION OF TAKE PRIVATE TRANSACTION WITH AMERICAN INDUSTRIAL PARTNERS" (Press release). GlobeNewswire. April 15, 2021.
  17. ^ "American Industrial Partners completes acquisition of Seacor". American City Business Journals. April 20, 2021.
  18. ^ "Seacor Holdings to go private in $1 billion deal". www.workboat.com. 2020-12-07. Retrieved 2024-05-16.
  19. ^ a b Kaup, Karl Christoph (2008-12-11). Transaktionserfolg von Mergers & Acquisitions in der Logistik: Die Konsolidierung aus Sicht des Kapitalmarktes (in German). Springer-Verlag. p. 256. ISBN 978-3-8349-1390-6.
  20. ^ Jurek, Walter (2006). Merger and Acquisition Sourcebook. The Company.
  21. ^ DuPont, Dale K. (2017-03-15). "Seacor to take over bankrupt International Shipholding". www.workboat.com. Retrieved 2024-05-16.
  22. ^ Griggs, Ted (2017-06-02). "International Shipholding emerges from bankruptcy as part of publicly traded Florida company". NOLA.com. Retrieved 2024-05-16.
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Official website

    • Historical business data for SEACOR Holdings:
    • SEC filings
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