Offshore wind contractor Boskalis has acquired total ownership of Rever Offshore’s subsea services business.
Rever (formerly known as Bibby Offshore), offers a broad range of services in the area of subsea construction, inspection, repair and maintenance.
Boskalis will obtain two diving support vessels of which one is fully owned (Rever Polaris) and a second chartered (Rever Topaz), through this transaction.
Rever employs around 130 onshore staff in addition to approximately 220 offshore workers.
The 2020 annual revenue is approximately €90m, most of which is generated through framework agreements.
Based on projected “cost synergies”, the acquisition payback period is expected to be less than three years, Boskalis said.
Rever operates in the North Sea out of Aberdeen, in Scotland.