Boskalis Buys Rever Offshore Subsea Services

Boskalis Buys Rever Offshore Subsea Services
Royal Boskalis Westminster N.V has announced that the company has acquired all the shares of Rever Offshore's subsea services business.

Royal Boskalis Westminster N.V has announced that the company has acquired all the shares of Rever Offshore’s subsea services business.

Through this acquisition, Boskalis said it 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 and gas market and the “rapidly expanding” offshore wind market. Boskalis noted that it is now a “solid top three player” in the North Sea subsea market and highlighted that it has opened up “ample” opportunities for operational efficiencies and synergies.

As part of the deal, Boskalis will obtain two diving support vessels, the Rever Polaris, which is fully owned, and the Rever Topaz, which is second chartered. Rever Offshore employs an onshore workforce of around 130 people, as well as around 220 offshore workers, and its annual revenue last year came in at around $111 million (EUR 90 million). Most of this was said to be generated through numerous framework agreements.

Formally known as Bibby Offshore, Rever Offshore is said to offer a broad range of solutions in the areas of subsea construction, inspection, repair and maintenance. Boskalis describes itself as a leading global dredging and offshore contractor and maritime services provider. The company, which has been operating for over 100 years, employs 9,700 people and has more than 700 vessels, according to its website.

In April this year, Boskalis announced the acquisition of maritime emergency response specialist Ardent Americas LLC, which is describes as a leading player under the Oil Pollution Act of 1990 (OPA90) for the provision of marine emergency response services in the United States. In October 2019, Boskalis completed the sale of its equity stake in Saam Smit Towage to SAAM S.A. The sale was first announced on February 11, 2019.

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