Cyan Renewables Acquires MMA Offshore in AU$1.1 Billion Deal

MMA Offshore shareholders are set to receive AU$2.70 per share in cash, reflecting a 36% premium over the 90-day volume-weighted average share price. The enterprise value to EBITDA ratio stands at 6.2x, with MMA projecting an EBITDA of AU$146 million to AU$149 million for the fiscal year 2024, more than doubling the previous year's AU$69.3 million.

The acquisition encompasses MMA's 20-vessel fleet and has garnered support from co-investors, including the Alberta Investment Management Corporation (AIMCo). AIMCo's participation through its investment in Cyan underscores the strategic importance of this deal.

Lee Keng Lin, CEO of Cyan Renewables, highlighted that the acquisition brings extensive maritime services expertise and a robust operational presence in key markets such as Australia and the broader APAC region. Cyan plans to retain MMA's workforce, leveraging and expanding its expertise, assets, and operating model to further penetrate the offshore wind support services market globally and in Asia.

For marine enthusiasts and prospective jet ski owners, this development signals a strengthening of the marine industry's infrastructure and capabilities. Enhanced services and expanded operations contribute to a more robust and reliable marine environment, benefiting both commercial and recreational activities. At Jetski Loans Australia, we are dedicated to supporting your marine adventures by providing flexible financing options tailored to your needs.