Bhagwan Marine is the pre-eminent service
provider to the offshore Oil & Gas industry in Australia. The
business has been operating in the sector since 1998 and now has a
strategic presence in the key port locations in WA, NT & QLD. The
business currently operates in excess of 50 vessels and employs 350 of
the best trained and knowledgeable marine personnel in the industry.
Catalyst has acquired a significant interest in
Bhagwan Marine and has provided growth capital to help expand &
develop the vessel fleet. The Kannikoski family will remain a
significant shareholder in the business and Loui Kannikoski will
continue to lead the business as Managing Director.
transaction will significantly strengthen the company’s balance sheet
and provide capital to meet the strengthening demand for vessels and
marine services in the Australian Energy & Resources sector. The
transaction marks Catalyst’s second investment in the WA market and
highlights the potential of opening an office in Perth.