Skilled Group Limited (ASX:SKE) acquire the remainder of the shares in the Offshore Marine Services joint venture to hold 100 per cent of the shares.
The staffing services company currently holds 50 per cent of OMSA shares and will pay $6.9 million to PB Sea-Tow Holdings for the remainder, payable in January next year.
The company says OMSA has recently won new work with its Gorgon Project contract and has recently paid dividends of $6.13 million to Skilled and PB.
CEO Mick McMahon says he’s pleased that OMSA’s systems, expertise and team will become a fully integrated part of the company.
Skilled reported a net profit of $44.2 million in the 2014 financial year.