Overview

CBO Holding S.A., together with its subsidiaries (collectively, “Grupo CBO”) is one of the pioneers of the Brazilian maritime support sector for the exploration and production (“E&P”) industry of highly complex offshore oil and gas operations through its fleet of vessels and own crew that support the E&P chain in an essential way from exploration, through production and decommissioning. Grupo CBO currently has the second largest maritime support vessel fleet in the country, with adequate technological characteristics and prepared to operate in the E&P sector, especially in high-depth waters, such as the Brazilian Pre-Salt.

The Company’s main activities include (i) provide logistics solutions for its customers, such as transportation of equipment, materials and production inputs for drilling rigs and oil vessels; (ii) perform operations such as anchor handling and tugging of oil platforms and supplies, fire fighting, offloading support, OT operations (ocean terminals); (iii) Response to oil spills, with the launching of barriers and other combat alternatives, in addition to the collection and transportation of spilled oil; (iv) Maintenance, inspection, and repair of subsea facilities and systems, in addition to supporting the stabilization of subsea equipment with the use of cranes, among others; and (v) Provide solutions for Integrated Logistics, which includes the Management and Operation of the entire supply chain for the maritime units, integrating offshore logistics, onshore storage and land transportation of cargo and supplies.

CBO’s history begins in 1978 under the control of Grupo Fischer. In 2013, Oceana Offshore S.A., a company created by Pátria Infraestrutura Fundo de Investimentos em Participações (“Pátria Investimentos”), with a minority stake from BNDES Participações S.A. (“BNDESPar”), acquired the companies of Grupo CBO at the time. In a joint transaction with said acquisition, Vinci Partners (“Vinci”) entered as a shareholder of the Company, resulting in the current group of shareholders of Grupo CBO.

Jointly, Pátria, Vinci and BNDESPar helped professionalize the Company’s activities, taking Grupo CBO to higher management and corporate governance levels so that it was ready to execute another cycle of growth. This cycle was marked by the expansion of the fleet through the construction of high standard vessels in the company’s own shipyard.

In 2019, Grupo CBO believes to have initiated a new growth cycle, now guided by the acquisition of existing (and already operational) vessels, aiming to meet the representative increase in demand for support vessels that the Company believes will occur in Brazil due to the pre-salt exploration. Since then, nine vessels have been acquired and are ready to operate, in addition to one more vessel being operated by the Company on a long-term bareboat contract, consolidating a fleet of 41 vessels by December 2021.

Five of these new vessels acquired were the result of an M&A process with Finarge, which resulted in the incorporation of the Brazilian company Finarge Apoio Maritimo Ltda, owner of 1 AHTS and the acquisition of 4 AHTS belonging to the Italian Finarge Armamento Genovese SRL, totaling 5 AHTS in the operation. Part of the transaction payment was made through a capital increase with the issuance of new CBO shares, representing 5.60% of its capital, which were subscribed and paid up by Finarge Armamento Genovese SRL., which became a new shareholder of the Company.

Brazil has one of the largest deepwater oil reserves in the world, and today only a small portion of these reserves are explored, demonstrating the great growth potential that exists in the country. As the country’s pre-salt exploration costs are among the lowest in the world, oil exploration and production in Brazil will play an important role over the next years. With a strong investment plan, Grupo CBO seeks to remain among the leading players in the industry, growing its fleet in terms of quantity and technological aspects, always maintaining its commitment to the national industry.