SEACOR Holdings Inks JV With Avista Capital Partners - Quick Facts

(RTTNews) - SEACOR Holdings Inc. (CKH) has entered into a joint venture with Avista Capital Partners, a private equity firm specializing in investments primarily in growth oriented energy, healthcare, communications and media, industrial and consumer companies.

Avista, through a wholly-owned subsidiary, invested around $150.0 million in cash for a non-controlling ownership interest in SEACOR subsidiaries operating a fleet of seven U.S.-flag Jones Act vessels used for U.S. coastwise trade of crude oil, petroleum and specialty chemical products as well as a contract for the construction of three 50,000 DWT product tankers with National Steel and Shipbuilding Company.

The vessels will continue to be managed and crewed by SEACOR subsidiaries pursuant to ship management and crew management agreements.