Prysmian, a leading provider of energy and telecommunications cable systems, has announced the acquisition of ACSM Shipping, a Spain-based company and leading provider of submarine cable installation solutions.
ACSM Shipping, based in Vigo, has a fleet of owned vessels with which it offers solutions for the installation of submarine cables, including underwater surveying, route planning and seabed preparation. With over 20 years of experience in the offshore cable sector, the group operates in more than 60 countries, employs over 350 people and has a track record of hundreds of completed submarine operations.
With this transaction, Prysmian will strengthen its global leadership in the submarine cable sector, expanding its range of solutions for customers in the energy and telecommunications sectors, accelerating the full vertical integration of its submarine activities and bringing in-house industry knowhow and assets.
The value of the transaction is EUR 169 million (subject to adjustments), and it is expected to close in February.
Baker McKenzie advised Prysmian with a team led by Partner Paolo Ghiglione, assisted by Associates Giacomo Lamperti and Guido Pinto for M&A matters, the antitrust team coordinated by Partner Andrea Cicala and, for local law aspects, the Baker McKenzie Madrid team coordinated by Partner Luis Casals together with Senior Associate Jose Heres and Associate Marìa del Mar Venzal.
The transaction was also handled by Prysmian’s in-house team.
ACSM Shipping, based in Vigo, has a fleet of owned vessels with which it offers solutions for the installation of submarine cables, including underwater surveying, route planning and seabed preparation. With over 20 years of experience in the offshore cable sector, the group operates in more than 60 countries, employs over 350 people and has a track record of hundreds of completed submarine operations.
With this transaction, Prysmian will strengthen its global leadership in the submarine cable sector, expanding its range of solutions for customers in the energy and telecommunications sectors, accelerating the full vertical integration of its submarine activities and bringing in-house industry knowhow and assets.
The value of the transaction is EUR 169 million (subject to adjustments), and it is expected to close in February.
Baker McKenzie advised Prysmian with a team led by Partner Paolo Ghiglione, assisted by Associates Giacomo Lamperti and Guido Pinto for M&A matters, the antitrust team coordinated by Partner Andrea Cicala and, for local law aspects, the Baker McKenzie Madrid team coordinated by Partner Luis Casals together with Senior Associate Jose Heres and Associate Marìa del Mar Venzal.
The transaction was also handled by Prysmian’s in-house team.
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