Bhagwan Marine Secures $120M Riverside Acquisition to Boost EBITDA by 54%

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Key Takeaways

Bhagwan Marine announces $120 million acquisition of Riverside Marine Holdings, delivering 54% EBITDA uplift and 14% EPS accretion through capital-light vessel management across five diversified brands.

  • Transformational $120 million acquisition immediately scales Bhagwan Marine's operations with 54% EBITDA uplift and 75% EBIT increase
  • Capital-light vessel management model delivers ~40% EBITDA margins and strong free cash flow with sustaining capex of only 30-35% of EBITDA
  • Diversified revenue streams across harbour towage, research vessels, construction sand, and ferry services reduce single-customer concentration risk
  • Long-term contracts with tier-one customers including 27+ year AIMS relationship and 11+ year Pilbara contracts provide earnings visibility
  • Conservative pro forma gearing of 1.0x net debt to EBITDA supports balance sheet stability post-transaction

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