Skip to main content

Boskalis acquires Rever Offshore

Published by
World Pipelines,


Boskalis has announced the acquisition of all the shares of Rever Offshore’s subsea services business.

Boskalis acquires Rever Offshore

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 (UK) 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 €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 and 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.

Image copyright: Boskalis.

Read the article online at: https://www.worldpipelines.com/business-news/06012021/boskalis-acquires-rever-offshore/

You might also like

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Offshore pipeline news


 

World Pipelines is not responsible for the content of external internet sites.