Boskalis buys Rever Offshore’s subsea services business
Royal Boskalis Westminster
N.V. (Boskalis) has announced the acquisition of all shares in Rever Offshore’s
subsea services business (Rever). Rever, formally known as Bibby Offshore,
offers a 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. 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 is expected to strengthen 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 offshore wind market.
