Dutch outfit Boskalis has acquired UK-based geotechnical marine survey specialist Gardline Group for £40m, including debt, deepening its involvement in Europe’s offshore wind industry.
The deal will see Boskalis take ownership of Gardline’s 15 survey-related vessels, plus 25 smaller boats, including crew transfer vessels and survey catamarans.
Boskalis said the acquisition meets its strategic ambition to build a position in the offshore survey market with exposure to renewables, as well as more-depressed oil and gas markets.
It warned that “the challenging near-term outlook” meant the deal isn’t expected to be earnings accretive within the next few years.
“This transaction, however, positions Boskalis well for when end-markets recover,” the company said.
Image: Gardline
