Boskalis To Expand In Offshore Wind Market Through VolkerWessels Deal

Posted by Betsy Lillian on March 07, 2016 No Comments
Categories : FYI

Expanding in the offshore wind market, Royal Boskalis Westminster N.V. (Boskalis) has signed a letter of intent to acquire the offshore activities from construction firm VolkerWessels.

Under the intended transaction, Boskalis will acquire the activities related to maritime and offshore wind energy infrastructure of VolkerWessels, which comprises VBMS, Stemat and Volker Stevin International (VSI).

Boskalis and VolkerWessels, both headquartered in the Netherlands, have been working together for years in the offshore wind energy market, including through their 50/50 joint venture, VBMS. Boskalis is a global services provider in the dredging, maritime infrastructure and maritime services sectors.

Stemat provides specialized vessels, including a cable-laying vessel and multi-purpose vessels, and VSI specializes in the construction of offshore foundations and maritime infrastructure. As part of this transaction, Boskalis will acquire the remaining 50% share in VBMS.

As part of their joint venture, the companies acquired offshore wind projects Wikinger and Veja Mate. Under this new transaction, Boskalis will execute these projects on a 100% basis.

The companies expect to close the deal in the second quarter.

“For the coming years, we expect demand for offshore wind energy to further increase both in northwest Europe and beyond. We are, therefore, very enthusiastic that we can incorporate these activities into Boskalis for the full 100 percent,” explains Peter Berdowski, CEO of Boskalis. “Combining these with our other maritime activities will create new opportunities for market and cost synergies. This is a logical and desirable step for Boskalis in its strategy aimed at strengthening its offshore service proposition.”

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