Babcock International Group PLC has entered into a Sale and Purchase Agreement to acquire the remaining 50% shareholding in Naval Ship Management (Australia) Pty Ltd (NSM) from its long-term joint venture partner in Australia. The change of ownership is subject to regulatory and customer consents.
The acquisition will allow Babcock Australasia to further strengthen the breadth of its maritime support to the Australian Defence Force and to provide additional capability for Australia’s current and future maritime programmes.
Babcock Australasia CEO David Ruff said:
“We are incredibly proud to further our commitment to the Royal Australian Navy and signal our intentions to be a long-term and valued partner to Defence.
“NSM will continue its track record of providing innovative and highly skilled sustainment operations, working in close partnership with CASG and Defence.
“Australasia is a focus region for our Group and this shareholding acquisition aligns with our strategy to be the number one warship sustainment company in the region.”
The NSM joint venture was established in 2012 to provide maintenance services to the Royal Australian Navy’s Anzac class frigates. Today the business has evolved into a strategic maritime sustainment partner to Australia with almost 300 employees, supporting not only the Anzac class frigates as part of the Warship Asset Management Agreement, but also the Canberra Class Landing Helicopter Docks (LHD) and 12 LHD Landing Craft as the Asset Class Prime Contractor.