Aug 16 (Renewables Now) - Dutch dredging and offshore contractor Royal Boskalis Westminster NV (AMS:BOKA) has bought UK-based offshore geotechnical services and environmental surveys firm Gardline Group for GBP 40 million (USD 51m/EUR 44m), including debt.
Through the acquisition, Boskalis wants to build a position in the offshore survey market and secure subsea geotechnical surveys orders from companies in the offshore wind power sector and early cyclical oil and gas market.
Set up in 1969, Gardline currently generates between GBP 60 and GBP 70 million in annual revenue. Its core geographical market is Northwest Europe, where Gardline is the main competitor of Fugro in marine surveys but it is also active in the USA, Brazil and Singapore. The firm operates 15 survey-related vessels in addition to 25 smaller vessels and employs 750 employees, of which 100 surveyors.
(GBP 1.0 = USD 1.286/EUR 1.098)