Babcock completes NSM acquisition
Babcock International Group plc today announced that it has completed the acquisition of the remaining 50% interest in its Australian Naval Ship Management (NSM) joint venture from UGL Infrastructure (UGL).
Image courtesy Babcock
The NSM joint venture was established in 2012 to maintain the Royal Australian Navy's ANZAC class frigates. Today the business has evolved into a strategic maritime sustainment partner to Australia, supporting not only the Anzac class under the Warship Asset Management Agreement but two Canberra Class Landing Helicopter Docks (LHD) and 12 LHD Landing Craft. NSM has approximately 300 employees.
The acquisition will allow Babcock Australasia, one of the Group's focus countries, to further strengthen the breadth of its support to the Australian Defence Force's maritime capability 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.”