Gulf Marine Services (GMS), a provider of jack-up support vessels to the offshore energy industry, has agreed to acquire a new mid-class self-propelled, self-elevating support vessel. This marks GMS' first vessel acquisition in over 10 years and is expected to join its fleet within two weeks.
The company plans to use the new vessel to support its strategy of doubling its adjusted EBITDA by 2030. 4 million loan, with the remainder funded from GMS' cash resources.
The cost of funding and covenant terms are consistent with those agreed upon in December 2024. 0 times, excluding EBITDA contribution from the acquired vessel.
Further announcements on backlog and revised adjusted EBITDA guidance for 2026 will be made in due course. GMS has earmarked the new vessel for several commercial opportunities, with more details to follow.
The acquisition supports the company's growth ambitions while preserving its financial strength and operational flexibility. As a result, this marks an important milestone for GMS, demonstrating its commitment to expansion and investment in its fleet.
The addition of the new vessel will enable GMS to pursue further acquisitions and commence its shareholder reward programme in the coming months.
This acquisition is a significant move by GMS, showcasing its ability to adapt to changing market conditions and invest in its fleet to support growth ambitions. With the addition of this mid-class self-propelled, self-elevating support vessel, GMS is well-positioned to capitalize on new commercial opportunities.
