A.P. Moller – Maersk (Maersk) has announced the completion of its divestment of Maersk Supply Service (MSS), a leading provider of global offshore marine services and project solutions for the energy sector.
The value of the transaction is $685 million, reflecting an EV/EBITDA multiple of 27.4x based on EBITDA for full-year 2022.
At closing, A.P. Moller Holding, the parent company of the A.P. Moller Group, will assume full ownership of MSS.
MSS will continue trading under its current name and will be using the Maersk seven-pointed star logo as part of its brand.
In 2016, Danish giant adopted its new strategy around integrated logistics, and a separation of the existing energy related activities was initiated.
Maersk Tankers, Maersk Oil & Gas and Maersk Drilling were divested in the period 2017-2019.
Today, with the divestment of Maersk Supply Service, the final divestment of the energy related activities will be completed.
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“The divestment of Maersk Supply Service marks the completion of our previous decision to divest all energy related activities and focus on truly integrated logistics,” said Head of M&A and Strategic Brands at Maersk, Peter Wikstrom.
“At the same time, we are very pleased to see that Maersk Supply Service will be able to continue to further develop new solutions for the green energy transition under a new long-term ownership,” Wikstrom added.
This divestment comes less than two weeks after the Danish company inaugurated its first warehousing and distribution (W&D) facility in Cape Town, South Africa.
Earlier this year, Maersk announced the completion of its acquisition of Martin Bencher Group on 4 January and just last week, the company declared that all aspects of Martin Bencher will display Maersk’s visual brand identity starting from now.