Master Marine AS and Crossway Holdings, both leaders in offshore accommodation services, have agreed to merge operations. The merger will be executed through the formation of a new holding company majority owned by Nordic Capital and with Paragon Outcomes Management LLC being a significant minority holder. The current holding companies of Master Marine and Crossway Holdings will be owned 100% by the new joint company. The Group will build upon its successful track record of 100% uptime performance and solid contract backlog to create a top-tier accommodation services business.
Merger of Master Marine and Crossway Holdings: Creating a high-end offshore accommodation player
