United States: Seabulk International Named Private Equity Deal Of The Year 2002
Last Updated: April 10 2003

Originally issued on March 13, 2003

Publicly-held Seabulk International Inc. received the Private Equity Deal of the Year 2002 by Marine Money International. Marine Money International designated the award after reviewing more than 200 marine finance transactions. Vinson & Elkins represented Seabulk in negotiating and structuring the private equity deal of $100 million in private placement of common stock and related bank financing.

"Many companies in the maritime industries have complex asset and capitalization structures requiring broad knowledge and experience in the law of international corporate finance, securities, antitrust and maritime regulation and corporate governance," says V&E Houston Partner T. Mark Kelly, co-head of the firm's worldwide Corporate Finance and Securities Section. "I think that is what we brought to Seabulk in leading the legal representation in this challenging private investment in a public company that has received such international recognition. It is an honor to continue to serve Seabulk and others in the shipping and maritime industries."

V&E Partners T. Mark Kelly, James M. Prince, and associate Nicole E. Clark of V&E's Corporate Finance & Securities Section continue to lead our representation of Seabulk. Seabulk International is a provider of marine support and transportation services with a fleet of 174 vessels, primarily to the energy and chemical industries.

Vinson & Elkins was established in 1917 and is one of the world's largest international law firms. The firm has more than 840 lawyers practicing in Austin, Beijing, Dallas, Houston, London, Moscow, New York, Singapore, and Washington, D.C. The firm offers a wide range of legal services. Clients include public and private companies, financial institutions, municipalities, governments of sovereign nations, entrepreneurs, families, and individuals.

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