Royal Boskalis Westminster (Boskalis) has signed a letter of intent (LOI) to acquire offshore activities from VolkerWessels. Under the intended transaction, Boskalis will acquire maritime and offshore wind energy related activities of VolkerWessels, including the brands VBMS, Stemat and VSI (Volker Stevin International).
Peter Berdowski, ceo of Boskalis, commented: “For many years we have been working closely and constructively together with VolkerWessels both on- and offshore. Over the last couple of years, we jointly increasingly targeted offshore wind opportunities and together acquired and completed projects successfully. 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%. 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.”
VBMS, a 50/50 Boskalis – VolkerWessels joint venture, is the European market leader in the field of offshore cable installation. Boskalis will acquire the remaining 50% share in VBMS. Stemat has a global offering of specialised vessels including a cable laying vessel and multipurpose vessels. VSI is specialized in the construction of offshore foundations and maritime constructions. In thw last 18 months, Boskalis and VSI in joint venture acquired two large offshore wind park projects, Wikinger and Veja Mate respectively. As a consequence of this transaction, Boskalis will execute these two projects on a 100% basis.
The deal should go through in the next quarter.