Tidewater to Acquire Wilson Sons Ultratug for $500M

Tidewater has signed a definitive agreement to acquire Wilson Sons Ultratug Participa es S.A. and Atlantic Offshore Services S.A. in an all-cash transaction valued at approximately $500 million, including the assumption of existing debt. The deal adds Wilson Sons Ultratug’s fleet of 22 platform supply vessels (PSVs) to Tidewater’s offshore support vessel portfolio.

Pro forma, Tidewater will own 213 OSVs and 231 total vessels, expanding its Brazil fleet from six vessels to 28. WSUT enters with approximately $441 million in backlog. Tidewater expects the WSUT business to generate roughly $220 million in revenue over the first 12 months after a late Q2 2026 closing, with projected gross margin of approximately 58%.