ABL acquires Engage Marine Group

JAKARTA’s PT Asian Bulk Logistics has completed the acquisition of a majority shareholding in the Engage Marine Group, first foreshadowed by DCN on 27 March.

The investment by ABL Group includes Engage Marine Pty Ltd and its subsidiaries and completion follows the satisfaction of all conditions precedent under a share purchase agreement, including execution of the relevant completion process and creation of a new shareholding partnership.

Engage Marine joins a growing Australian portfolio that ABL Group has assembled through a series of targeted acquisitions: One Rail Australia, Transhipment Services Australia and SCF Containers. With Engage Marine adding a well-established maritime services capability, backed by extensive operational experience and a strong reputation for safety, to a network that already serves ports, shipping companies, and resources clients throughout Australia, ABL says.

“The transaction marks a significant milestone in ABL Group's long-term growth strategy in Australia and reinforces the company's commitment to building an integrated logistics and infrastructure platform across the Asia-Pacific region," ABL said in a press release.

“Engage Marine's harbour and terminal towage, line boat and pilotage and vessel management capabilities extend ABL Group's operational footprint and complement its existing rail freight, transhipment, and container businesses — creating a more connected service offering across the maritime and industrial logistics supply chain.”

Engage had been seeking additional capital and/or a partner to help equip it to seize identified opportunities in the Oceania region. The company is understood to be well advanced in working with local interests to establish a six-tug operation in Papua New Guinea ports, under the name Crest Tugs.

Commenting on the completed deal Engage CEO Mark Malone said the majority shareholding acquisition presented "an exciting new chapter for Engage Marine, combining the strength of the ABL Group with the ongoing involvement of our existing business owners, management, and workforce which creates a strong partnership for continued development of the company".

“Joining forces with the ABL Group will protect our current services level with clients and support us in increasing our capabilities. This partnership allows us to further grow the business and delivers even greater value to our clients and partners who rely on us across Australia's maritime sector," Mr Malone said.

“This transaction provides Engage Marine the opportunity to develop into a larger, more sustainable business and we look forward to contributing our expertise and experience as we work together to shape the next phase of ABL Group's international growth.”

Australian Global Infrastructure Pty Ltd (AGI) chair Ika Heru Beth Ari said the acquisition represented "another important milestone in ABL Group's long-term growth strategy in Australia".

"Through AGI, our Australian holding company, we continue to strengthen an integrated infrastructure platform spanning rail, transhipment, containers, and marine services," Ms Ika said.

“Bringing Engage Marine into our portfolio marks a defining moment for ABL Group. By uniting Engage Marine's premium port towage and marine services with our existing operations across TSA, SCF, and One Rail Australia, we are realising our blueprint for an interconnected, end-to-end global supply chain,” she said.

“An achievement of this scale would not have been possible without the support of our strategic partners. On behalf of the Board, I want to express our deepest gratitude and appreciation to QIC, Balmain, PEP Credit, Bank Exim (LPEI), Indies Capital, and SMG Capital. Their unwavering confidence, strategic support, and financial partnership were instrumental in executing and bringing this landmark transaction to a successful completion."

* Main image: From left - Rob Garrett, Engage Marine director; Mark Malone, Engage Marine CEO; Ika Bethari, Australian Global Infrastructure (AGI) chairperson; and Bill Bisset, AGI non-executive director .