Tidewater acquires WSUT for $500M; adds 22 PSVs, expands Brazil fleet

TIDEWATER INC

Enterprise value $500M includes assumption of ~$261M debt; all-cash from cash on hand.
Acquires 22 PSVs (19 Brazilian-built); Brazil fleet grows from 6 to 28 vessels.
WSUT backlog ~$441M; below-market day rates expected to drive earnings uplift on rollover.
Pro forma net leverage below 1.0x; accretive to 2026E and 2027E EPS and FCF per share.
Closing expected late Q2 2026; subject to CADE antitrust approval and customary conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TIDEWATER INC entered into Sale and Purchase Agreement with Wilson Sons S.A., Ultranav International II, S.A. and Remolcadores Ultratug Limitada (collectively, the "Sellers") valued at $500,000,000 (effective 2026-02-22).

Action: entry
Agreement: asset purchase
Counterparty: Wilson Sons S.A., Ultranav International II, S.A. and Remolcadores Ultratug Limitada (collectively, the "Sellers")
Value: $500,000,000
Effective: 2026-02-22

Exact text from the filing

On February 22, 2026, Tidewater Inc., a Delaware corporation (the “ Company ”), entered into a Sale and Purchase Agreement (the “ Sale and Purchase Agreement ” and, together with the other related documents, the “ Transaction Documents ”) between Wilson Sons S.A., Ultranav International II, S.A. and Remolcadores Ultratug Limitada (collectively, the “ Sellers ”),

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TIDEWATER INC filing history →

Source: SEC EDGAR

accession 0001104659-26-018759

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