US-based naval services company Highwater has acquired Hobart marine engineering firm Taylor Bros Marine Pty Ltd, in a deal the companies say is aimed at expanding “sovereign” naval sustainment capability in Australia.
Highwater said Taylor Bros’ leadership team will remain in place and the Taylor family will become shareholders in the combined business. Highwater is backed by private investment firm Arlington Capital Partners.
Taylor Bros, a fourth-generation family-owned business based in Hobart, provides design, engineering, prefabrication and installation services for marine habitability modules. The company is set to mark 90 years in operation this week.
The acquisition follows Highwater’s earlier purchases of Eptec Defence in Australia and US-based AMP United, both involved in naval preservation and repair work. Highwater said combining Taylor Bros’ outfitting and habitability work with its existing preservation services would broaden the group’s ability to support naval programs “across the full naval lifecycle”.
Highwater CEO Steve Zogas said the combined group has more than 700 employees across Australia and the US and would continue investing in workforce, capability and infrastructure to support customer requirements in the Indo-Pacific.
Taylor Bros director Phillip Taylor said the business had worked alongside Highwater’s “constituent organizations” in Australia for 23 years and expected the deal to enable it to support the Royal Australian Navy and allied fleets at greater scale.
Advisers on the transaction included Moelis Australia and Johnson Winter Slattery for Highwater and Arlington Capital Partners, and Equion and Keypoint Law for Taylor Bros.
