RightBridge Ventures Group Announces Proposed Acquisition of Offshore Oil Service Company
RightBridge Ventures Group has recently announced a proposed reverse acquisition of Swemar, a company that has entered into an agreement to acquire an offshore oil service company with operations across the Middle East, India, and South-East Asia.
The company that Swemar is set to acquire operates a fleet consisting of Anchor Handler Tug Supply (AHTS) vessels and crew transportation vessels. It currently owns three vessels outright and operates an additional five to ten vessels under charter or management agreements.
Strategic Expansion into Asia
This acquisition marks a strategic first step for RightBridge in establishing a strong maritime presence in Asia. It will provide the company with a solid technical and operational platform, with the potential for further expansion into other segments of the maritime industry.
The acquisition is projected to be immediately accretive, with an estimated EBITDA contribution of $11 million over the next 12 months. This projection is based on fixed employment contracts with reputable clients such as Saipem, NMDC Group, Larsen & Toubro, Aramco, and others.
Anticipated Timeline and Impact
The transaction is firm from the seller’s side and is currently undergoing standard due diligence processes. It is expected to be finalized in the third quarter of 2025 and is anticipated to have a positive impact on RBV’s EBITDA result for the 2025 financial year. The acquisition price will be disclosed upon the closing of the transaction.
According to the company, the acquisition will not alter the price or terms for the transaction with Right Bridge Ventures Group.
Future Plans and Growth Strategy
“This acquisition serves as the initial step towards establishing a robust maritime presence in Asia. It will equip us with a strong technical and operational platform in the maritime sector, with room for expansion into other maritime markets,” stated Dagfinn Lunde, the newly appointed Chairman of RightBridge Ventures.
“The acquisition is a significant value-add for RightBridge. In conjunction with our existing ownership in U.S.-based shipbuilding and defense-related industries, we aim to evolve into a comprehensive defense and maritime company with global operations,” Lunde added.