Econocom and Bourbon in exclusive negotiations regarding the future development of Les Abeilles

Paris, September 4, 2020 - The Bourbon and Econocom groups have entered into exclusive negotiations for the acquisition by Econocom of les Abeilles, the French specialist in towing and rescue on the high seas, also aiming to establish an operational partnership to support this activity.

Over the past five years, Econocom - the Digital general contractor (equipment, services, financing) - has been working with the Bourbon Group (offshore marine services) to finance part of its vessels’ fleet, and more notably those of Les Abeilles. The technical dimension of Les Abeilles' business, the solidity of its know-how and financial situation, coupled with Econocom's willingness to strengthen its position in the growing maritime digitalization market, have led Econocom to propose to strengthen its relationship with Les Abeilles and become the reference shareholder.

For Les Abeilles and its teams, the realization of this project would offer the support of a solid group, eager to invest in its future development, in France but also internationally, and support the ongoing renewal of its fleet.

Under this agreement, Bourbon will continue to contribute to the development of Les Abeilles by bringing its technical shipowner expertise in the management of operations through a commercial and technical assistance services contract. With this project, Bourbon continues its focus on Offshore marine services around its three activities  Marine & Logistics, Mobility and Subsea Services.

"Les Abeilles is a company with a strong identity whose expertise in protecting the coastline is recognized by a wide audience. By managing major rescues of vessels in distress, Les Abeilles has written some of the most beautiful pages in the history of BOURBON. With Econocom, the company would join a solid and renowned player, which has the necessary dimension to ensure its future development, particularly with regard to the strategic project to renew its fleet," Gaël Bodénès, Chairman of Bourbon Maritime says.

Pascal Potrel, Managing Director of Les Abeilles comments "I would be very pleased that Les Abeilles may rely on Econocom, a shareholder capable of supporting us in the acquisition of new vessels, while continuing to benefit from Bourbon's technical and commercial support. This project would strengthen our long-term development potential and put us in a good position to win future tenders."

Jean-Louis Bouchard, Chairman of Econocom declares: "As a marine and civil engineer in the Marine Engineering sector, I would be honored to contribute to the development of the prestigious Société Les Abeilles thanks to the positive project built with the Bourbon Group. If this project is carried out ,we intend to fully assume our responsibility as a shareholder and provide Les Abeilles' employees with the resources, including financial, to fulfill their mission in the best possible way and over time.”