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07/2026

OCEAN YIELD acquired by A.P. MOLLER HOLDING

NORWAY Specialty Finance / Asset Leasing & Financing / Aviation & Maritime Leasing EV 3b - 100b USD

Context

A subsidiary of A.P. Moller Holding has signed an agreement to acquire 100% of Ocean Yield from funds managed by KKR, subject to customary regulatory approvals. Ocean Yield operates a globally diversified ship‑leasing platform with a fleet of over 70 vessels spanning LNG carriers, crude tankers, container ships and dry bulk carriers, all under long‑term charters that provide stable cash flow. The acquisition aligns with A.P. Moller Holding’s objective to deepen its maritime portfolio and capture the steady revenue profile generated by long‑duration vessel leases. By adding Ocean Yield’s modern fleet and contracted backlog, the buyer expands its exposure to the growing LNG transportation market and strengthens its presence in the ship‑leasing segment, complementing existing shipping and logistics operations. Post‑closing, the combined entity is expected to benefit from enhanced financing flexibility, cross‑selling opportunities to a broader customer base, and operational synergies through shared services and procurement. Integration of Ocean Yield’s asset management capabilities with A.P. Moller’s extensive maritime network should improve fleet utilization, reduce cost of capital, and support the development of additional vessels aligned with the energy transition.

OCEAN YIELD, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Financial Services sector (12.4x).

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Target

Ocean Yield AS is a ship‑owning company headquartered in Oslo that invests in vessels placed on long‑term charters. The firm holds interests in more than 70 modern ships covering gas carriers, container vessels, LNG carriers, crude oil tankers, product and chemical tankers, and dry bulk carriers. Each vessel is financed through a mix of asset‑level loans and corporate debt, primarily issued in Nordic bond markets. The business model relies on fixed charter fees collected under contracts that typically extend beyond ten years, providing predictable cash flow and earnings visibility. Customers comprise major energy producers such as Shell, TotalEnergies, Cheniere and EDF, as well as large shipping operators including MSC. Ocean Yield’s portfolio is diversified across multiple cargo types, with LNG carriers representing a significant share of its earnings backlog. The company maintains a contracted backlog that exceeds the value of its current fleet, reinforcing long‑term revenue stability. Since its formation, the firm has pursued a strategy of fleet modernization and geographic expansion to align with the global energy transition, while preserving a high credit quality through long‑duration contracts with creditworthy counterparties.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2025
2024

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REFERENCES

Valuation range: EV 3b - 100b USD

EBITDA range: 250M - 500M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of OCEAN YIELD by A.P. MOLLER HOLDING are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: ocean yield

Acquirer: a.p. moller holding