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Boskalis buys another survey company

4C Offshore | Tom Russell
By: Tom Russell 21/02/2019 Boskalis
Royal Boskalis Westminster N.V. (Boskalis) has acquired a 2.5% majority stake in the Horizon Group (Horizon) from the United Arab Emirates. Horizon's main activities include marine geophysical surveys and geotechnical services.

Boskalis is a dredging and offshore contractor and maritime services provider active in the construction of offshore wind farms. Horizon was established in 2004 and is located in Sharjah in the UAE. Its activities are largely based in the Arabian Gulf and the Red Sea with clients ranging from national oil companies as well as international EPCI contractors to the oil and gas industry.

Horizon operates seven survey/geotechnical vessels, of which three are on a long term charter, in addition to five smaller survey vessels, two jack-up platforms, three motion-compensated drill towers for geotechnical services and eight ROVs. The remaining 37.5% of the shares are held by the incumbent management. The revenue level in the financial year 2018/2019 is expected to exceed USD 100 million.

Peter Berdowski, CEO of Boskalis, said: "Through this transaction, we are adding an important strategic position to our existing marine survey and subsea geotechnical business. Horizon is a market leader in the Middle East and we are committed to continuing and expanding the high quality of services they deliver to their clients. Furthermore, Horizon with its strong market position in the Middle East, makes this addition highly complementary to the position we hold through Gardline in Northwest Europe."

Back in August 2017, Boskalis bought Gardline, a survey company which operates from its principal office in Great Yarmouth, Norfolk. Established in 1969, the company operates offshore survey vessels in addition to a number of smaller vessels including crew transfer vessels and catamarans.

More recently, Boskalis signed a contract for the replacement and repair of part of the inter-array cables at an undisclosed offshore wind farm. The contract carries a value of approximately EUR 80 million.
Boskalis stated that it will utilise three anchored barge spreads, including the  Bokabarge 82, as well as  BoDo Constructor, which the company recently acquired from Bohlen Doyen, and various support vessels.

For more information on corporate activity in offshore wind,
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