Ares Portfolio Company Hornbeck Offshore to Merge With Helix Energy

Paul, Weiss is advising Ares Management on the all-stock merger of its portfolio company Hornbeck Offshore Services, Inc., with Helix Energy Solutions Group, Inc., establishing a premier integrated offshore services company reportedly valued at $4 billion. Upon completion, Hornbeck shareholders, including Ares, will own about 55% of the combined company. The transaction is expected to close in the second half of 2026, subject to customary closing conditions.

The Paul, Weiss team is led by corporate partners Michael Vogel and Kenneth Schneider, and includes partners Thomas de la Bastide and Christodoulos Kaoutzanis; and tax partner Scott Sontag.