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Case Study

Transforming an offshore services into a marine services company

Offshore Oil and gas field

Our client had a strategic advantage in its sea-side land and proximity to offshore oil fields, but needed a new growth strategy to achieve their financial targets.

The Situation

Our client was an offshore oil & gas fabrication and maintenance company that had a strategic advantage in its sea-side land and proximity to offshore oil fields. Traditionally they only had a few select clients, with exposure to oil price movements a key earnings risk. With fewer and fewer fabrication contracts and severe cash flow issues affecting their returns to shareholders, our client knew that they had to transform the business in order to continue their growth. Advisian was enlisted to develop their new business growth strategy.

Approach

We commenced the first phase of strategy development through identifying, evaluating, and prioritizing opportunities for growth through a significant market assessment, thus determining feasible business options. Our team interviewed market participants and utilized multiple industry data points to determine each opportunity’s attractiveness to our client and from a market perspective.

The prioritized opportunities pointed to the transformation of the business and land to a marine services company. The transformation strategy provided a logical plan to move away from their current core business, increased their business diversification, and identified some new capabilities required to capture an emerging market. For the second phase we developed a new, future-state business model, a partnering approach, and bankable financial plan to attract investment.

Results

Our developed strategy and business plan commenced a business transformation to obtain growth, increase market size, and improve cash flow resiliency. It enabled the client to lock-in key business partners, obtain new customer contracts, establish external financing, and commence early engineering for the repurposing of their core asset.

As a value-added service, we included a valuation of their business and land, should it be sold As-Is, to enable clearer decision making.

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