Tidewater, Inc.

Tidewater, Inc.

Tidewater, Inc.

Overview
Date Founded

1956

Headquarters

601 Poydras Street, Suite 1500, New Orleans, LA, 70130, USA

Type of Company

Public

Employees (Worldwide)

5,510

Industries

Marine Shipping
Oil & Gas

Company Description

Tidewater created the “work boat” industry with its 1956 launch of the Ebb Tide, the world’s first offshore vessel tailor-made to support the offshore oil and gas industry. Today, with a fleet of more than 350 vessels, we’re the oldest, largest and most experienced provider of the marine support services for this vital industry. Tidewater has a global footprint, with over 90% of its fleet working internationally in more than 60 countries. Around the world, we stand ready to transport crews and supplies, tow and anchor mobile rigs, assist in offshore construction projects and perform a variety of specialized marine support services

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Executives & Employees

President & Chief Executive Officer

Interim Chief Executive Officer & President

Executive Vice President & Chief Financial Officer

Chief Operating Officer & Executive Vice President

Secretary, Chief Compliance Officer & Executive Vice President

Vice President, Principal Accounting Officer & Controller

Vice President & Treasurer Tidewater Corporate Services, L.L.C.

Senior Vice President Tidewater Corporate Services, L.L.C.

Vice President Tidewater Corporate Services, L.L.C.

Vice President Tidewater Corporate Services, L.L.C.

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Board of Directors

Founder at Drivetrain LLC

Adjunct Professor, Energy Macroeconomics & Corporate Finance in the MBA Program at Texas Christian University - Neeley School of Business

Former Director, President & Chief Executive Officer at Transocean Ltd.

Former Treasurer at SEACOR Holdings, Inc.

President & Chief Executive Officer at Day & Partners LLC

Future President & Chief Executive Officer at Tidewater, Inc. (Effective 03/2018)

Former Chairman at LIS Energy Services LLC

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Tidewater, Inc.
Owners & Shareholders
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AIG Asset Management US (AMG) manages client portfolios the majority of which are invested in public fixed income securities. Client portfolios may also include alternative investments consisting of higher or lower risk holdings, which may have different acquisition parameters and different investment horizons, including, among other things, private placement assets, loans and equity funds.AMG manages public fixed income securities to provide its institutional clients (almost exclusively affiliated insurance companies) a fixed, periodic coupon payment, interest payment or dividend. The income from these securities spans the life of the bond until maturity, at which time the principal is returned to the investor. Categories of these securities include: high grade corporate debt, high yield debt, sovereign/agency debt, municipal securities, emerging market securities, CLOs, CDOs, RNBS and CMBS. AMG's Private Placement Group (PPG) is part of the group of Specialty Asset Classes within AIG and is made up of several underlying groups; Corporate Private Placements, Leveraged Capital, Global Project Finance, Structured Privates, and Direct Originations. The PPG acquires investments in unregistered securities, predominantly Regulation D offerings, through these groups on behalf of AIG insurance company clients. Investment opportunities are typically sourced through existing relationships with outside institutions.The Commercial Loan (CML) group originates and services commercial mortgage loans within the US (fixed rate, first lien secured whole loans on commercial real estate properties; select mezzanine and floating rate investments/variable interest rate) on behalf of AIG Insurance affiliates.The firm has an agreement with an affiliated mortgage advisory company to source and provide the firm with individual residential mortgage loans for direct investment opportunities. Such loans are underwritten by unaffiliated mortgage originators and generally insured by the United Guaranty Company, an affiliate of AIG.AMG uses a manager-of-managers approach to gain exposure to various asset classes including private equity funds, real estate funds and hedge funds.

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The Northwestern Mutual Life Insurance Co.'s investment objective is to generate superior risk-adjusted returns while maintaining a well-balanced and diversified portfolio. The firm's managed assets are invested by their wholly-owned subsidiaries: Northwestern Investment Management Company LLC and Mason Street Advisors LLC. Approximately 80% of Northwestern Mutual's managed assets are invested in investment-grade bonds and other fixed-income instruments, while the remaining 20% is invested in equities and high-yield bonds.

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Third Avenue Management is a value manager that employs a disciplined fundamental, bottom-up approach to identify investments with the objective of delivering superior absolute returns with limited investment risk over the long-term. The firm's investment approach focuses on the strength of a company's balance sheet and the discounted price of its securities. Their research approach is opportunistic and is not constrained by market-cap, industry, sector, or geographic location. The firm's value-oriented investment strategies are available through mutual funds, separate accounts and alternative investments. Third Avenue often engages in shareholder activism.Third Avenue's investment strategy is to invest in safe companies that are priced substantially below a conservative estimate of the business value as a private entity or takeover candidate. The firm looks for companies with high-quality assets with conservative and appropriate leverage. Companies should have an understandable business model with meaningful financial information readily available. Third Avenue also looks for companies with the potential for attractive growth in the value of their net assets over the next 5 years.

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Recent Transactions
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Cari Investment Company, LEEVAC Shipyards Houma LLC purchase Quality Shipyards LLC from Tidewater, Inc.

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Tidewater, Inc. purchases Troms Offshore Supply AS from HitecVision Private Equity AS, HitecVision AS

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Tidewater, Inc. purchases Oil Ltd from Exel Plc

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Insider Transactions
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Transaction Advisors
Accountant

Advised onTidewater, Inc. purchases Oil Ltd from Exel Plc

Investment Advisor

Advised onTidewater, Inc. purchases Troms Offshore Supply AS from HitecVision Private Equity AS, HitecVision AS

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Advisors & Consultants
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Advisor

Vice President Tidewater Corporate Services, L.L.C. at Tidewater, Inc.

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Clients

BP Plc operates as an integrated oil and gas company worldwide. It operates through three segments: Upstream, Downstream and Rosneft. The Upstream segment engages in the oil and natural gas exploration, field development, and production; midstream transportation, and storage and processing; and marketing and trade of natural gas, including liquefied natural gas, and power and natural gas liquids. It also owns and manages crude oil and natural gas pipelines; processing facilities and export terminals; and LNG processing facilities and transportation, as well as NGL extraction business. The Downstream segment refines, manufactures, markets, transports, supplies, and trades in crude oil, petroleum, and petrochemicals products and related services to wholesale and retail customers. It offers lubricants and related products under the Castrol, BP, and Aral brands to the automotive, industrial, marine, and energy markets; and petrochemicals products, such as purified terephthalic acid, paraxylene, acetic acid, olefins and derivatives, and specialty petrochemicals products. The Rosneft segment engages in the exploration and production of hydrocarbons in the United States, Canada, Vietnam, Venezuela, Brazil, Algeria, the United Arab Emirates, Turkmenistan, and Norway; and offers jet fuel, bunkering, bitumen, and lubricants. It also produces bioethanol, sugar, and biobutanol; exports power to the local grid; transports hydrocarbon products through shipping and chartering services. BP was founded by William Knox D'Arcy on April 14, 1908 and is headquartered in London, the United Kingdom.

Freeport-McMoRan, Inc. engages in the mining of copper, gold, and molybdenum. It operates through the following segments: Morenci; Cerro Verde; Grasberg; Molybdenum Mines; Rod & Refining; Atlantic Copper Smelting & Refining; Other Mining & Eliminations; U.S. Oil & Gas Operations; and Corporate, Other & Eliminations. The Morenci segment is located in Greenlee County, Arizona, which deals with the porphyry copper deposit that has oxide, secondary sulfide, and primary sulfide mineralization. The Cerro Verde segment is located in the southwest of Arequipa, Peru, which consists of porphyry copper deposit that has oxide, secondary sulfide, and primary sulfide mineralization. The Grasberg segment is located in the Sudirman Mountain Range in the province of Papua, Indonesia, which comprises of copper and gold deposits. The Molybdenum Mine segment operates the Henderson underground mine and the Climax open-pit mine, both in Colorado. The Rod & Refining segment consists of copper conversion facilities located in North America, and includes a refinery, three rod mills, and a specialty copper products facility. The Atlantic Copper Smelting & Refining smelts and refines copper concentrate and markets refined copper and precious metals in slimes. The Other Mining & Eliminations comprises of Miami smelter, Freeport Cobalt, molybdenum conversion facilities in the U.S. and Europe, four non-operating copper mines in North America and other mining support entities. The U.S. Oil & Gas Operations segment consists of oil and natural gas production onshore in South Louisiana and on the GOM shelf, oil production offshore California, and natural gas production from the Madden area in central Wyoming. The Corporate, Other & Eliminations segment composes of international oil and gas capital expenditures primarily related to the Morocco oil and gas properties. The company was founded by James R. Moffett on November 10, 1987 and is headquartered in Phoenix, AZ.

Chevron is one of the world's leading integrated energy companies and conducts business worldwide. Our success is driven by our people and their commitment to get results the right way—by operating responsibly, executing with excellence, applying innovative technologies and capturing new opportunities for profitable growth. We are involved in virtually every facet of the energy industry. We explore for, produce and transport crude oil and natural gas; refine, market and distribute transportation fuels and lubricants; manufacture and sell petrochemical products; generate power and produce geothermal energy; provide energy efficiency solutions; and develop the energy resources of the future, including research for advanced biofuels.

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Key Stats and Financials As of 2017
Market Capitalization
$535M
Total Enterprise Value
$1.4B
Earnings Per Share
$-440.43
Revenue
$602M
Net Profit
$-660M
EBITDA
$50.1M
EBITDAMargin
8.32%
Total Debt
$2.03B
Total Equity
$1.65B
Enterprise Value Sales
2.32x
Enterprise Value EBITDAOperating
27.92x
TEVNet Income
-2.12x
Debt TEV
1.46x
Three Year Compounded Annual Growth Rate Of Revenue
-25.16%
Five Year Compounded Annual Growth Rate Of Revenue
-10.83%
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Political Donations
$5,000
2004
$5,000
2003
$500
2001
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Political Donations Received
$5,000
2004
$5,000
2003
$500
2001
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Suppliers
Vard Holdings Ltd. Trucks, Construction & Farm Machinery | Singapore, SE

Vard Holdings Ltd. engages in the provision of design and shipbuilding of offshore and specialized vessels. It offers ship design, shipbuilding, ship repair and conversion, accommodation, piping systems and installations, trading, electrical products and services, SeaQ control solutions, and Vard Academy. It operates through the following geographical segments: Norway, Romania, Singapore, Vietnam, Brazil, Canada, USA, Italy, and Other Countries. The company was founded on June 11, 2010 and is headquartered in Singapore.

American Electric Technologies Inc. Equipment & Office Supplies | Houston, TX

American Electric Technologies, Inc. provides power delivery solutions to the traditional and renewable energy industries. It provides custom designed power distribution, power conversion, and automation and control systems. The power distribution products include low and medium voltage switchgear, arc managed and arc resistant switchgear. Its power conversion solutions include analog, digital silicon controlled rectifier and alternating current variable frequency drive systems. The automation and control solutions are programmable logic controllers based systems designed for the management and control of power in a user's application. It also provides their services to oil and gas and marine and industrial sectors. The company was founded in 1946 and is headquartered in Houston, TX.

Twin Disc, Inc. Trucks, Construction & Farm Machinery | Racine, WI

For 87 years Twin Disc has been developing, engineering, manufacturing and distributing power transmission products that make things work. They are seldom seen, but they go into machines that contribute to the standard of our lives. Twin Disc products are installed in the drivelines and powertrains of farm tractors, road pavers, cranes, mining trucks, oil rigs, logging equipment, firefighting and rescue vehicles, pleasure craft, fishing and work boats, pumps, turbines - you name it. They manage and control the horsepower generated by internal combustion engines and electric motors. They help feed us, provide natural resources, build our cities and homes, transport us, defend us and influence our lives daily in many unnoticed but critical ways. Where there's an industrial strength vehicle or machine that requires converting horsepower to productivity, Twin Disc has a way to do it. So, in a very real sense, Twin Disc has helped put the world to work, for nearly a century

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