# Global Marine Group to acquire Fugro's trenching and cable lay business

Global Marine Group, an HC2 Holdings subsidiary, has agreed to acquire Fugro's trenching and cable lay services business for approximately $73 million, consisting of a 23.6% equity interest in Global Marine Holdings LLC valued at $65 million and a $7.5 million vendor loan. The acquisition was announced on October 12, 2017.

- Type: Acquisition
- Announced: 2017-10-12
- Where: Aberdeen, United Kingdom, United Kingdom
- Value: $73.0M
- Jobs: 23
- Status: announced
- Products: trenching services, cable lay services
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Fugro](https://endata.com/companies/743.md) (target)
- [Global Marine Group](https://endata.com/companies/26335.md) (acquirer)
- [HC2 Holdings, Inc.](https://endata.com/companies/27737.md) (partner)

## Sources

- [globenewswire.com](https://www.globenewswire.com/en/news-release/2017/10/12/1144862/0/en/HC2-Portfolio-Company-Global-Marine-Group-to-Acquire-Fugro-s-Trenching-and-Cable-Laying-Business.html), 2017-10-12: "The combination of Global Marine Group and Fugro’s trenching and cable laying business will create an even more effective operating platform for delivering services to customers and value to shareholders."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.