Next Geosolutions Finalizes $112M Acquisition of Offshore Vessel Siem Day with Italian Bank Financing

Type: Acquisition · Technology: Other · Country: Italy · Value: $112M · Announced: 2026-03-18

Next Geosolutions, an Italy-based marine geosciences and offshore construction support specialist, finalized the acquisition of the offshore vessel Siem Day for approximately $112 million. The vessel, which will be renamed NG Supporter, will strengthen the company's fleet and subsea service capabilities for offshore energy and energy transition projects. Next Geosolutions secured 70% of the funding for the acquisition from Italian financial institutions Intesa Sanpaolo and Cassa Depositi e Prestiti (CDP) with a 10-year repayment term. Intesa Sanpaolo acted as the lead bank, underwriting 60% of the financed amount, while CDP contributed the remaining 40%. This acquisition marks a key step in Next Geosolutions' fleet expansion strategy, positioning the company to capture increased demand for specialized offshore support tonnage in international markets.

Analysis

Next Geosolutions acquired the offshore vessel Siem Day for $112 million, renaming it NG Supporter, to expand its fleet for offshore energy and energy transition projects. Intesa Sanpaolo, a leading Italian banking group with significant infrastructure finance activity through its IMI Corporate & Investment Banking Division, provided 60% of the financing. Cassa Depositi e Prestiti (CDP), Italy’s National Promotional Institution managing over €500 billion in assets, contributed the remaining 40% of the loan. The financing arrangement includes a 10-year repayment term, with 70% of the acquisition cost funded by the two Italian institutions. The deal was announced on March 18, 2026.

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