Tidewater Acquires Wilson Sons Ultratug Offshore in All-Cash Deal

The acquisition expands Tidewater's global offshore services footprint.

Published on Feb. 23, 2026

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Tidewater Inc., a leading provider of offshore support vessels, has announced the all-cash acquisition of Wilson Sons Ultratug Offshore, a joint venture between Wilson Sons and Ultratug. The deal will expand Tidewater's global presence and fleet of offshore support vessels.

Why it matters

The acquisition strengthens Tidewater's position as a major player in the offshore services industry, allowing the company to leverage Wilson Sons Ultratug's assets and expertise in the Latin American market. It also signals ongoing consolidation in the offshore services sector as companies seek to gain scale and efficiency.

The details

Under the terms of the agreement, Tidewater will acquire 100% ownership of Wilson Sons Ultratug Offshore for an all-cash transaction. The deal is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals. Tidewater plans to integrate Wilson Sons Ultratug's fleet and operations into its existing global platform.

  • The acquisition was announced on February 22, 2026.
  • The deal is expected to close in the second quarter of 2026.

The players

Tidewater Inc.

A leading provider of offshore support vessels for the global energy industry.

Wilson Sons Ultratug Offshore

A joint venture between Wilson Sons and Ultratug, providing offshore support vessels in Latin America.

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What they’re saying

“This acquisition is a significant milestone for Tidewater as we continue to expand our global footprint and capabilities to better serve our customers worldwide.”

— Quintin Kneen, President and CEO of Tidewater (Business Wire)

What’s next

The acquisition is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals.

The takeaway

The Tidewater-Wilson Sons Ultratug Offshore deal reflects ongoing consolidation in the offshore services industry as companies seek to gain scale and efficiency to better serve their global customers.