Wednesday 23 January 2019

Highlights

- TAMS buys 100% of Gladstone-based diversified marine service provider MIPEC, and Cairns-based diving company Taylored Offshore Services.

- Represents further expansion of TAMS and its first acquisitions outside of Western Australia

- TAMS to take over MIPEC’s current contracts, support current MIPEC customer base

- Taylored Offshore Services’ marine services operations centered in northern Australia, Papua New Guinea

- Follows recent significant shorebase expansion in Western Australia’s North West

- Adds new capabilities to TAMS’ large suite of services

- In line with coordinated growth strategy, and allows TAMS to undertake larger projects across Australia and the Asia-Pacific

- MIPEC and Taylored Offshore Services staff to retain jobs

- Company will consider further acquisition opportunities after a period of consolidation

Diversified marine and port services company TAMS Group advised it has acquired two Queensland-based marine services firms, representing TAMS’ first acquisitions outside Western Australia, and a major expansion for the Company.

The consideration for the purchase for the acquisitions will not be disclosed.

Like TAMS, MIPEC provides port services, marine maintenance, engineering and construction services to the mining, marine, and oil and gas sectors.

MIPEC was established in 2004 and is the largest privately-operated facility in the Gladstone Port Corporation’s Marina. MIPEC occupies 6 hectares of land and seabed lease, with extensive marine infrastructure including jetties, slipway, travel lift, barge ramp and significant onshore facilities including vessel maintenance yard, fabrication facilities, warehousing and laydown yard.

Cairns-based Taylored Offshore Services is a diving-focused company offering a complete range of commercial diving, inspection, repair and maintenance services. It offers a full range of inspection, repair and maintenance services to the oil & gas, mining, shipping, defence and marine infrastructure industries throughout the Northern Territory and Papua New Guinea.

MIPEC and Taylored Offshore Services staff are expected to retain their jobs.

TAMS Managing Director Dyon Pilmoor said:

“MIPEC and Taylored Offshore Services present an exciting opportunity for TAMS to expand its business beyond Western Australia and enter the Queensland port and marine services industry. TAMS and MIPEC are similar companies structurally, with similar service offerings, and we see this transaction as a good fit with many synergies, while Taylored Offshore Services strengthens our diving capabilities.

“We will work closely to support MIPEC customers and have already commenced engagement with MIPEC personnel and key customers to enable a collaborative transition with minimal disruption to service delivery.

“This acquisition marks another step in our growth strategy to create a streamlined marine organisation with locally-staffed shorebase locations adjacent to major ports and resource export terminals.

“We continue to build our diverse capability, operational performance and local knowledge enabling TAMS to consistently provide the right solutions to our customers to satisfy their port services, marine maintenance and marine construction requirements,” Mr Pilmoor said.

In September last year, TAMS announced it had opened three new permanent shorebases in Dampier and Port Hedland in the Western Australia’s Pilbara, and Broome in the state’s Kimberley region.