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Our Cases

Smit acquired position in Brazil

Engagement

Helping Smit Internationale NV acquire a position in Brazil.

Background

Smit, a leading maritime player with a presence in nearly 50 locations around the world, provides its services predominantly to shipping companies, producers in the oil and LNG industries, insurers and governments. It operates through four different divisions, with one, Harbour Towage, viewed as a strategic growth area.

Customer's dilemma

Smits corporate strategy is focused on growing those activities that generate a stable cash flow. Harbour Towage matches this profile, and Smit’s ambition is for the division to have positions in all maritime crossroads of the world.

Our contribution

Together with Smit, JBR produced a global analysis of Harbour Towage’s major markets. Possible targets were selected based upon a set of predefined criteria. For Brazil, JBR approached all major players in the market to assess take-over possibilities, which resulted in the identification of one player with a substantial new building program. This enabled Smit to benefit from its global customer portfolio by starting up a greenfield operation in pre-selected ports.

The result

Smit acquired 50 percent of the shares of Rebras – Rebocadores do Brasil S.A. In 2012, Smit Rebras will be active in 8-10 of the major Brazilian ports with 30 new ASD tugs (45-70 TBP) and about 200 crew and 75 staff.