Blue Water Marine Capital and Horizon Offshore Services form partnership

Kevin Butler

Blue Water Marine Capital and Horizon Offshore Services announced the completion of a cross-purchase agreement in which each company acquired a 25% ownership stake in the other.

Blue Water Marine Capital, based in Linthicum, Md., provides financing for workboats, vessel acquisitions, refinancing, shipyard acquisitions and drydock construction. Houston-based Horizon Offshore Services provides offshore support vessel operations, ship repair, shipbuilding and project management services.

Company executives said the agreement is intended to support collaboration in vessel financing, offshore support and maritime services.

Kevin Butler, president and CEO of Blue Water, said the partnership would expand the companies’ capabilities and resources.

“This partnership allows us to expand our reach and better serve our clients with enhanced resources and expertise,” said Kevin Butler.

Nikolas Nikolai, CEO of Horizon Offshore Services, said “We are excited to join forces with Blue Water Marine Capital and look forward to leveraging our combined strengths to drive innovation and growth.”

The companies said they will continue operating under their existing brands.

About Blue Water Marine Capital

The company provides of maritime financing to the workboat industry, serving clients across the United States and internationally with tailored capital solutions for vessel acquisitions and refinancing. It also offers financing options for shipyard acquisitions and dry dock construction. It’s also a member of the 4 Bridges Enterprises family of companies.

About Horizon Offshore Services

Horizon Offshore Services is a Houston-based company specializing in commercial and technical offshore support vessel operations, maritime services, project management, ship repair, and ship building—delivering operational excellence across United States and International offshore markets.