Babcock to acquire the remaining 50% of its Australian joint-venture.

According to a PR published by Babcock on February 15, 2022, the firm announced that it has entered into a Sales and Purchase Agreement to acquire the remaining 50% interest in its Australian Naval Ship Management (NSM) joint venture from its long-term joint venture partner in Australia, for consideration of AUD60 million.
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Anzac-class HMAS Ballarat (Picture source: US Navy)

The NSM joint venture was established in 2012 to maintain the Royal Australian Navy’s ANZAC class frigates. Today the business has evolved into a strategic maritime sustainment partner to Australia, supporting not only the Anzac class under the Warship Asset Management Agreement but two Canberra Class Landing Helicopter Docks (LHD) and 12 LHD Landing Craft.

The acquisition will allow Babcock Australasia, one of the Group’s focus countries, to further strengthen the breadth of its support to the Australian Defence Force’s maritime capability and to provide additional capability for Australia’s current and future maritime programs.

The Anzac class (also identified as the ANZAC class and the MEKO 200 ANZ type) is a ship class of ten frigates; eight operated by the Royal Australian Navy (RAN) and two operated by the Royal New Zealand Navy (RNZN).

Each frigate has a 3,600-tonne (3,500-long-ton; 4,000-short-ton) full load displacement. The ships are 109 metres (358 ft) long at the waterline, and 118 metres (387 ft) long overall, with a beam of 14.8 metres (49 ft), and a full load draught of 4.35 metres (14.3 ft).