Royal Boskalis Westminster has acquired Germany’s market-leading dredging company Strabag Wasserbau for around €70m ($76m).
The sale price will be paid in cash and does not include any goodwill, Boskalis said today.
Strabag Wasserbau, which was formerly known as Möbius Wasserbau, has an annual turnover of €50m ($54m). The acquisition comprises the German company’s equipment, personnel and two maintenance contracts.
Boskalis said the “most important” assets included in the acquisition are two young shallow draft trailing suction hopper dredgers, each with a capacity of 7,350 m3; a large modern backhoe dredger and four self-propelled barges.
“The technical specifications of the hoppers makes them very attractive for port maintenance, coastal and beach replenishments projects,” the Dutch company commented.
“In view of this acquisition and the current market conditions, Boskalis will be taking a number of aging hoppers, cutters and backhoe dredgers out of service in the course of this year.”