MMA Offshore to acquire Subcon International

June 23, 2022
Vessels and subsea services provider MMA Offshore Ltd. has entered into an agreement to acquire Subcon International Pty Ltd., enhancing MMA's offering to its existing oil and gas and offshore wind markets.

Offshore staff

PERTH, Australia  MMA Offshore Ltd. has entered into an agreement to acquire Subcon International Pty Ltd. through the acquisition of 100% of Subcon International Pty Ltd.

MMA Offshore specializes in providing high-specification vessels and a comprehensive suite of marine and subsea services to the offshore energy sector and wider maritime industries. 

Subcon provides stabilization, coastal erosion and engineered reef solutions to the oil and gas, offshore wind, coastal infrastructure and tourism sectors in Australia and internationally.   

The purchase consideration, totaling A$8.4 million, will comprise $4.2 million in cash, to be paid from existing cash reserves, with the balance of the consideration to be issued in MMA ordinary shares at the 60-day volume weighted average share price on completion.

The acquisition supports MMA’s growth objectives and is expected to generate a number of key strategic benefits:

  • Enhanced capability to service MMA's existing markets of oil and gas and offshore wind through the combination of MMA and Subcon’s service offering;
  • Access to new markets with significant potential for growth through a range of solutions, including oil and gas decommissioning through Subcon’s rigs to reef offering, attenuating reef systems to combat coastal erosion, scour protection technology and recreational reef developments; and
  • Market consolidation through the combination of MMA’s existing subsea stabilization business with Subcon.

Integration of the business will commence immediately upon completion with the Subcon business to become part of MMA’s Subsea Services division.    

Completion of the transaction is subject to a number of customary conditions precedent and is expected to occur in July 2022.     



(Courtesy MMA Offshore)
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