Boskalis bolsters market position in subsea services through acquisition Rever Offshore
05 Gennaio 2021 - 8:00AM
Boskalis bolsters market position in subsea services through
acquisition Rever Offshore
Papendrecht, 5 January 2021
Boskalis announces the acquisition of all the shares of Rever
Offshore’s subsea services business (‘Rever’). Rever, formally
known as Bibby Offshore, offers a broad range of solutions in the
area of subsea construction, inspection, repair and
maintenance.
Rever has historically operated in the North Sea out of Aberdeen
(United Kingdom) and holds a strong track record. Through this
transaction, Boskalis will obtain two diving support vessels of
which one is fully owned (Rever Polaris) and a second chartered
(Rever Topaz). The group employs an onshore staff of around 130 in
addition to approximately 220 offshore workers. The 2020 annual
revenue is approximately EUR 90 million, most of which is generated
through numerous framework agreements. Based on projected cost
synergies, the acquisition payback period is expected to be less
than three years.
Through this acquisition, Boskalis strengthens its current
position in the subsea services market in Northwest Europe, Africa
and the Middle East and its capabilities to serve both the
traditional oil & gas market and the rapidly expanding offshore
wind market. On the important North Sea subsea market, Boskalis is
now a solid top three player opening up ample opportunities for
operational efficiencies and synergies.
FOR FURTHER INFORMATION
Investor relations:Martijn L.D.
Schuttevâerir@boskalis.com
Press:Arno Schikkerpress@boskalis.com
T +31 786969310Royal Boskalis Westminster N.V. is a
leading global services provider operating in the dredging,
maritime infrastructure and maritime services sectors. The company
provides creative and innovative all-round solutions to
infrastructural challenges in the maritime, coastal and delta
regions of the world. With core activities such as coastal defense,
riverbank protection and land reclamation Boskalis is able to
provide adaptive and mitigating solutions to combat the effects of
climate change, such as extreme weather conditions and rising sea
levels, as well as delivering solutions for the increasing need for
space in coastal and delta regions across the world. The company
facilitates the development of offshore energy infrastructure,
including renewable wind energy. Boskalis is furthermore active in
the construction and maintenance of ports, waterways, access
channels and civil infrastructure, thus helping to facilitate trade
flows and regional socio-economic development. In addition,
Boskalis is a global marine salvage expert and has a number of
strategic partnerships in harbor towage and terminal services
(Keppel Smit Towage and Smit Lamnalco). With a versatile fleet of
more than 700 vessels and floating equipment and 9,600 employees,
including associates, Boskalis is creating new horizons around the
world.
This press release can also be found on our website
www.boskalis.com.
- Boskalis acquires Rever Offshore ENG 05012021