Foster Garvey served as buyer’s lead legal counsel in the acquisition of Oceanco, a Netherlands-based shipyard known for delivering iconic custom superyachts. The buyer, Gabe Newell, is the co-founder of Valve, a well-known figure in the global technology sector, and founder of Inkfish, a global oceanographic research company.
The matter was led by Edward Harley, Chair of Foster Garvey’s Yachts, Ships & Submersibles practice, with major support from Larry J. Brant, John A. Knab, Peter A. Evalds and Erika G. Johnson. The firm advised on legal and strategic aspects of the transaction, coordinating across numerous jurisdictions and working closely with key advisors in multiple countries. The deal reflects the complexity and scale typical of cross-border acquisitions in the luxury yacht manufacturing sector.
Under new ownership, Oceanco will continue manufacturing the best-in-class superyachts under the company’s long-tenured leadership team. Oceanco’s outgoing owner will remain active in the industry through its continued ownership of a shipyard based in Turkey.
“Our team was honored to lead a transaction of this scale and significance on behalf of Mr. Newell,” said Edward Harley. “This deal reflects a clear commitment to preserving the values, people and capabilities that make Oceanco a respected builder of the most advanced and inspiring superyachts in the world, as well as highlighting Mr. Newell’s and Inkfish’s commitment to advancing science and technology in recreational and research ocean vessels.”
Foster Garvey has advised buyers and sellers of superyachts, ships, research vessels and submersibles since 1993. The firm regularly counsels clients on construction agreements, sale and purchase, refits, ownership structures and flag documentation in both domestic and international yacht and vessel transactions. Additionally, Foster Garvey routinely represents parties to significant merger and acquisition transactions, both in the United States and internationally.
